AUD/USD scope for a test of the mid-0.7500s – UOB

In opinion of the research team at UOB Group, AUD/USD could still retest the 0.7545/50 in the next 1-3 weeks.

Key Quotes

“The anticipated weakness in AUD edged below the 0.7595/00 support (low of 0.7584) before recovering. The downward pressure over the past couple of days has eased and the current movement is likely the early stages of a consolidation phase”.

“The anticipated pull-back in AUD has been more rapid than expected and further extension to 0.7545/50 would not be surprising. A clear break of this level would indicate that the current neutral outlook has shifted to bearish. The downward pressure would continue to increase unless AUD can move and stay above 0.7660 within these 1 to 2 days”.