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AUD/USD slips into short-term consolidation between 0.7135 and 0.7170

UOB analysts flagged 0.7200 as key resistance and said support at 0.7105 must hold to sustain the broader uptrend.

Reported · Written up by our desk · Major Pairs

United Overseas Bank analysts Quek Ser Leang and Lee Sue Ann said AUD/USD has cooled into short-term consolidation after a sharp rise, trading between 0.7135 and 0.7170.

They continue to view the broader uptrend as intact, with 0.7200 highlighted as a major resistance level to watch and 0.7105 identified as strong support that needs to hold to keep bullish momentum over the coming weeks.

UOB also pointed to recent price action where the Aussie dollar eased from around 0.7176 to 0.7141 before settling near 0.7150, a move they described as consistent with consolidation rather than a clear reversal.

For the next session, the analysts expected AUD to trade within the 0.7135 to 0.7170 range.

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