AUD/USD: Scope for AUD to test 0.6405 – UOB Group

FXStreet Insights Team FXStreet

Further range-trading appears likely; firmer underlying tone suggests a higher range of 0.6445/0.6485. In the longer run, the price action suggests there is scope for AUD to test 0.6405, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

Further range-trading appears likely

24-HOUR VIEW: "Last Friday, AUD dropped to a low of 0.6422 and then rebounded. Yesterday, we pointed out that 'the rebound amid slowing momentum suggests that, instead of continuing to weaken, AUD is more likely to range-trade today, probably between 0.6440 and 0.6480'. Our view of range-trading was not wrong, even though AUD traded in a narrower range than expected (0.6442/0.6470). Further range-trading appears likely, but the firmer underlying tone suggests AUD is likely to trade in a higher range of 0.6445/0.6485."

1-3 WEEKS VIEW: "We turned negative on AUD early last week. Tracking the subsequent decline, we highlighted last Friday (21 Nov, spot at 0.6450) that 'the price action suggests AUD could test 0.6405'. Although downward momentum has slowed somewhat, we will continue to hold the same view as long as the ‘strong resistance’ at 0.6510 (no change in level from last Friday) is not breached."

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 clings to daily gains just above 1.1800

EUR/USD steadied on turnaround Tuesday, shaking off recent weakness and climbing back above the 1.1800 level. The bounce comes as the US Dollar softens, with investors positioning ahead of key US data and continuing to rethink what the Fed’s next moves might be.

GBP/USD consolidates gains below 1.3700

GBP/USD is trying to claw back some of the ground lost over the past couple of sessions, posting decent gains around the 1.3670 region on Tuesday. Cable’s bounce comes as the Greenback eases modestly, while attention now turns to the BoE’s event on Thursday.

Gold nears $5,000 on lingering political woes

Gold staged a strong rebound on Tuesday, snapping a three-day slide and turning its attention back to the key $5,000 mark per troy ounce. The move appears to be driven by bargain-hunting, helped along by renewed selling pressure on the US Dollar and a mixed tone in US Treasury yields.

Global AI market could soar to $376 billion in 2026 as crypto AI falls behind

The Artificial Intelligence (AI) market has emerged as one of the fastest-growing technology sectors worldwide, driven by high demand for computer hardware, cloud infrastructure and business adoption.

Japan’s snap elections: The fiscal credibility test and the market playbook

Japan has opted for a snap election on 8 February 2026 rather than waiting for the normal electoral calendar, which makes this a faster, higher-stakes reset of political mandate.

Ripple slides as low retail, institutional demand weigh

Ripple edges lower, trading marginally below $1.60 at the time of writing on Tuesday as bulls and bears battle for control. The cross-border remittance token rose to $1.66 on Monday, but profit-taking and risk-off sentiment in the broader crypto market led to the ongoing correction.