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AUD/USD expected to trade in a tight band over the next 1-3 weeks
UOB expects the pair to range between 0.6890 and 0.6975, after recent trading that saw intraday moves between 0.6920 and 0.6960.
UOB analysts Quek Ser Leang and Lee Sue Ann said AUD/USD has been range trading slightly higher than expected, with recent intraday levels moving between 0.6920 and 0.6960.
They noted that tentative upside momentum has faded, and for the next 1 to 3 weeks the pair is expected to trade between 0.6890 and 0.6975.
On a 1 to 3 month horizon, UOB’s outlook remains negative for AUD/USD, with attention below 0.6835 toward 0.6707.
In their 24-hour view, they said the price action offers little signal, and expected AUD to trade between 0.6920 and 0.6960.