AUD/USD: Current price movements appear to be part of a 0.6535/0.6565 – UOB Group

FXStreet Insights Team FXStreet

The current price movements appear to be part of a 0.6535/0.6565 range-trading phase. In the longer run, AUD is likely to trade in a range between 0.6505 and 0.6610, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

AUD is likely to trade in a range

24-HOUR VIEW: "Following the sharp drop in AUD last Thursday that reached a low of 0.6533, we highlighted on Friday that 'there is scope for AUD to test 0.6530 before a recovery can be expected'. We added, 'we do not expect the major support at 0.6505 to come under threat'. However, AUD did not quite test 0.6530, as it dipped to a low of 0.6534 before settling at 0.6547 (-0.11%). The current price movements appear to be part of a range-trading phase. Today, we expect AUD to trade in a range of 0.6535/0.6565."

1-3 WEEKS VIEW: "We revised our view from positive to neutral last Friday (31 Oct, spot at 0.6555). We indicated that the recent 'upward momentum has faded', and we expected AUD to 'trade in a range between 0.6505 and 0.6610.' There is no change in our view."

Author

FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

EUR/USD holds above 1.1800 after US data

EUR/USD alternates gains with losses in the low-1.1800s on Wednesday in a context of modest gains in the Greenback. Meanwhile investors continue to assess the latest advanced inflation data in the euro area and the lower-than-expected weekly ADP figures and ISM Services PMI on the US calendar.

GBP/USD keeps the bid bias above 1.3700

GBP/USD builds on Tuesday’s gains, advancing for the second day in a row and reclaiming the 1.3700 barrier and above on Wednesday. Furthermore, Cable’s uptick comes despite decent gains in the Greenback ahead of the BoE’s Super Thursday.

Gold extends the rebound above $5,000

Gold picks up further pace and retests the area above the key $5,000 mark per troy ounce on Wednesday. The precious metal’s extra advance comes despite the firmer US Dollar and rising US Treasury yields across the curve, while fresh geopolitical effervescence appears to support the metal’s improvement.

Crypto Today: Bitcoin, Ethereum, XRP tick up despite macro uncertainty, retail exodus

Bitcoin rises above $76,000 following an extended decline to $72,946 the previous day as Fed-related headlines keep investors on edge. Ethereum advances toward the $2,300 hurdle amid low retail interest, with futures Open Interest falling to $26.3 billion.

Should investors abandon AI as software stocks slide?

AI is not being abandoned by markets. It is being priced more carefully. Over the past few weeks, the underperformance of software and SaaS stocks has sparked a familiar question: is the AI trade breaking down? The answer is no.

Ripple stabilizes amid mixed signals as ETF inflows resume despite low retail activity

Ripple hovers around the $1.60 pivotal level at the time of writing on Wednesday, reflecting stable but weak sentiment across the crypto market. Intense volatility triggered a brief sell-off on Tuesday, driving the remittance token to pick up liquidity at $1.53 before recovering to the current level.