AUD/USD: The 0.6685 level might me beyond reach – UOB Group

FXStreet Insights Team FXStreet

Australian Dollar (AUD) appears to have entered a consolidation phase between 0.6605 and 0.6645. In the longer run, further AUD strength is not ruled out; it remains to be seen if 0.6685 is within reach, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

Further AUD strength is not ruled out

24-HOUR VIEW: "AUD rose to a high of 0.6649 last Friday. Yesterday, when AUD was at 0.6635 in the early Asian session yesterday, we stated that 'negative divergence is starting to form on momentum indicators, and AUD is unlikely to rise much further'. We held the view that AUD 'is more likely to trade in a higher range of 0.6625/0.6655'. AUD subsequently traded between 0.6614 and 0.6649. AUD appears to have entered a consolidation phase, likely between 0.6605 and 0.6645. 1-3 WEEKS VIEW: "We have held a positive AUD view since late last month. Last Thursday (04 Dec, spot at 0.6600), we held the view that AUD 'could potentially rise to 0.6650'. After AUD rose to a high of 0.6649, we highlighted yesterday (08 Dec, spot at 0.6635) that 'while further AUD strength is not ruled out, the advance that started late last month appears to be overstretched, and it remains to be seen whether momentum is strong enough to reach the next resistance at 0.6685'. We will continue to hold the same view as long as 0.6590 (no change in ‘strong support’ level) holds."

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.

USD/JPY coiling up around 160.00 amid 'Yentervention' threats

USD/JPY sits glued near 160.00 in Asia on Friday, as the Japanese Yen remains supported by persistent 'Yentervention' threats by Japan's officials. However, the pair's downside remains capped by the Mideast tensions-led risk-off mood and the US Dollar's bullish consolidation.

Gold returns to the red, awaits US NFP

Gold price is looking to test the weekly lows, while in the red near $4,450 in the early European session on Friday. The precious metal remains vulnerable amid ongoing geopolitical turmoil. Traders will closely monitor the developments surrounding the US-Iran peace deal and the US May employment report later on Friday.

Indian Rupee jumps as RBI holds, but unveils measures to boost foreign inflows

The Reserve Bank of India held the Repo Rate at 5.25%, as widely expected, on Friday. But the central bank unveiled various measures to boost foreign inflows into the economy, lifting the Indian Rupee against the US Dollar.

Top 3 Price Prediction: Bitcoin eyes $60,000, Ethereum risks $1,750, XRP could test $1

Bitcoin, Ethereum, and Ripple prices edge lower on Friday, extending a steady decline of roughly 15% so far this week. Institutional outflows weigh on Bitcoin and Ethereum while XRP largely follows the broader market trend.

Recession on paper: What really moves the Canadian Loonie now?

Statistics Canada handed the headline writers a gift and the analysts a headache. Real GDP shrank 0.1% on an annualized basis in the first quarter, and with the fourth quarter of 2025 revised down to a 1.0% contraction, that is two negative quarters in a row, the textbook definition of a technical recession and Canada's first since the pandemic.