The Australian dollar (AUD) could test the level of 0.6325; The main resistance at 0.6355 is unlikely to be reached. In the long term, the AU seems to be limited in a range for now, probably between 0.6240 and 0.6355, the FX analysts of UOB Group, quek being Leang and Peter Chia point out.
The audience seems to be limited in a range for now
24 -hour vision: “Yesterday, the Aud rose to 0.6325 before quickly retreat to close at 0.6304 (+0.28%). The progress has resulted in a slight increase in the bullish impulse, but not enough to indicate a sustained increase. However, provided that the AU is maintained above 0.6270 (lower support in 0.6285), it could re -test the level of 0.6325. The main resistance at 0.6355 is unlikely to be reached.
Vision at 1-3 weeks: “While the fall of the audience last week was relatively pronounced, there has not been a significant increase in the bearish impulse. The AU seems to be limited in a range for now, probably between 0.6240 and 0.6355. Looking forward, even if the AUD breaks this range, it is likely that the additional movement in front of a significant support in 0.6190 or resistance in 0.6390.
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.
