AUD/USD: It will probably be negotiated in a lateral range between 0.6400/0.6450 – UOB Group

He Australian dollar will probably be negotiated in a lateral range of 0.6400/0.6450 against the US dollar. In the long term, the perspective is mixed; The AU will probably be negotiated in a range between 0.6370 and 0.6480, FX analysts point out UOB GroupTo be Leang and Peter Chia.

Perspective for the AUD is mixed

24 -hour perspective: “Our opinion that the Aud ‘would continue to rise’ yesterday was incorrect. Instead of climbing, the audience collapsed to 0.6392, bouncing to close down 0.53% in 0.6424. Despite the fall, there has not been a significant increase in the downward impulse. Instead of declining more, it is more likely that the Aud was negotiated in a lateral range of 0.6400/0.6450 today. “

Perspective 1-3 weeks: “Last Wednesday (May 14), when the AU was at 0.6470, we indicated that ‘to continue climbing, the audience must break and stay above 0.6515.’ After the advance of the Aud on Monday, we highlight yesterday, Tuesday (May 20, for 0.6450), that ‘the renewed bullish impulse has increased the chances of the Aud to break over 0.6515.’ However, the audience fell below our level of ‘strong support’ of 0.6400 (minimum of 0.6392), indicating that the possibility of an advance has dissipated.

Source: Fx Street

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