In the view of Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group, further gains in AUD/USD appears in store for the time being.
In the view of Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group, further gains in24-hour view: We expected AUD to edge higher yesterday. However, we indicated that “in view of the mild upward pressure, any advance is not expected to break the major resistance at 0.6485.” Our expectations were not wrong, as AUD rose to 0.6474 before easing off. The mild upward pressure is intact, and there is room for AUD to continue to edge higher. That said, a sustained break above 0.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
AUD/USD recovers its losses below the 0.6450 mark, eyes on RBA, Fed rate decisionThe AUD/USD pair recovers its losses after retracing from a two-week high of 0.6473 during the early European session on Monday. The pair is trading a
Read more »
Asia Day Ahead: Calm before the storm, as STI remains in range, AUD/USD strugglesMajor US indices gave back all of last week’s gains on Friday, while the Straits Times Index steadied. Volatility was triggered by the triple witching day with the VIX rising 7.6%.
Read more »
AUD/USD rebounds as investors eye Fed’s decision, as Chinese data boosts the AussieThe Australian Dollar (AUD) recovers some ground against the US Dollar (USD) as investors brace for a busy week in the central bank space, as the US F
Read more »
AUD/USD Forecast: Mixed signals, potential for gains while above 0.6410The AUD/USD reached a four-day low at 0.6416 and then rebounded, erasing losses and rising above 0.6430 on a quiet day as market participants prepare
Read more »
AUD/USD consolidates in a tight range below 0.6450 ahead of the RBA Meeting MinutesThe AUD/USD pair consolidates in a tight range below the mid-0.6400s during the early Asian session on Tuesday. Markets turn cautious ahead of the Res
Read more »
AUD/USD remains confined in a range below mid-0.6400s, moves little after RBA minutesThe AUD/USD pair extends its sideways consolidative price move during the Asian session on Tuesday and remains confined in a familiar trading range he
Read more »