The Australian dollar (AUD) is expected to be negotiated laterally between 0.6540 and 0.6595 against the US dollar (USD). In the long term, if the Aud breaks clearly above 0.6595, it could trigger an additional increase towards 0.6620, the FX analysts of UOB Group point out, to be Leang and Peter Chia.
Above 0.6595, the Aud can rise to 0.6620
24-hour vision: “We expected the Aud ‘to be negotiated in a range of 0.6550/0.6595’ Yesterday. The subsequent price action did not be as expected, since the AUD was briefly fell to 0.6537 and then bounced to close slightly lower at 0.6572 (-0.20%). There has not been an increase in the momentum that the Aud is negotiated laterally between 0.6540 and 0.6595. “
Vision at 1-3 weeks: “On Tuesday, July 1, when the AU was at 0.6575, we highlight that ‘if the Aud breaks clearly above 0.6595, could trigger an additional increase towards 0.6620.’ Since then, the audience has not been able to move forward much.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
