AUD/USD: Likely to trade in a range of 0.6455/0.6505 – UOB Group

FXStreet Insights Team FXStreet

Australian Dollar (AUD) is likely to trade in a range of 0.6455/0.6505. In the longer run, slight increase in upward momentum is likely to lead to a higher range of 0.6440/0.6540 rather than a sustained advance, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

Slight increase in upward momentum

24-HOUR VIEW: "Last Friday, AUD soared to a high of 0.6501. Yesterday, Monday, when AUD was at 0.6485, we indicated that 'the sharp rise appears to be excessive, and instead of continuing to rise today, AUD is more likely to trade in a range of 0.6460/0.6510.' AUD then traded between 0.6472 and 0.6523, a higher range than expected. AUD closed modestly lower at 0.6482, down by 0.14%. Further range trading appears likely today, but the softer underlying tone suggests a lower range of 0.6455/0.6505."

1-3 WEEKS VIEW: "We continue to hold the same view as yesterday (25 Aug, spot at 0.6485). As highlighted, after last Friday’s price movements, 'there has been an increase in upward momentum, but not significantly, and this is likely to lead to a higher range of 0.6440/0.6540 rather than a sustained advance'."

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.

AUD/USD falls to near 0.7100 after slipping below 50-day EMA

AUD/USD depreciates after registering minor gains in the previous day, trading around 0.7120 during the Asian hours. The technical analysis of the daily chart shows the pair consolidating sideways within a rectangle pattern, as neither bulls nor bears gain control. The AUD/USD pair is holding a slight bearish tone however as it sits beneath both the nine-day and 50-day EMAs.

160.00: USD/JPY back near intervention territory after upbeat US jobs report

US Nonfarm Payrolls beat expectations by a wide margin in May, with 172K jobs added. The US Dollar rebounds after the release, helping USD/JPY recover from its intraday lows. Warnings from Japanese authorities continue to limit upside potential near the 160.00 threshold.

Gold remains offered below $4,500 following US Payrolls

Gold prices trade with a bearish bias and still remain below the key $4,500 mark per troy ounce at the end of the week. The slighlty softer tone in the US Dollar alongside mixed US Treasury yields across the curve also keep the yellow metal’s downside somewhat contained.

Cardano hits five-year low even as Hoskinson clarifies "break" isn't an exit

Cardano (ADA) price is down 10% at press time on Friday, extending losses over 30% so far this week amid Charles Hoskinson's clarification that "break" isn't an exit.

Week ahead – Fed countdown begins amid US inflation data and geopolitical risks

Fed Chair Warsh’s first meeting approaches as key US inflation data could reshape expectations. Oil prices remain elevated as US-Iran talks continue; tariffs also return to the spotlight. ECB is expected to hike; will it be a one-off move or is July live?

The US economy defies the rules: 100 days into the Oil shock and the recession signal is still missing

More than three months after the start of the Iran war and the resulting disruption to global energy markets, the US economy continues to display remarkable resilience. The conflict has triggered a sharp rise in Oil prices, reignited inflationary pressures and fueled widespread concerns about a potential economic slowdown.