AUD/USD: Expected to trade in a range between 0.6510 and 0.6560 – UOB Group
|Australian Dollar (AUD) is expected to trade in a range between 0.6510 and 0.6560. In the longer run, for the time being, AUD is likely to trade in a 0.6490/0.6580 range, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
AUD is likely to trade in a range
24-HOUR VIEW: "Last Friday, we indicated that 'the outlook is mixed'. We also indicated that AUD 'could trade in a range between 0.6510 and 0.6560'. AUD subsequently dipped to a low of 0.6504, rebounded to 0.6551 and then closed modestly higher at 0.6537 (+0.09%). The price movements still appear to be part of a range-trading phase, and we continue to expect AUD to trade between 0.6510 and 0.6560."
1-3 WEEKS VIEW: "Not much has changed since our update from last Friday (14 Nov, spot at 0.6530). As highlighted, for the time being, we continue to expect AUD to trade in a 0.6490/0.6580 range."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.