Australian Dollar: Gradual upside within capped range against US Dollar – UOB

UOB’s Quek Ser Leang and Lee Sue Ann see AUD/USD steady near 0.7220 after quiet sessions, with intraday ranges around 0.7205–0.7238. They maintain that the Australian Dollar could edge higher but expect gains to stay within 0.7160–0.7240 over the next 1–3 weeks. On a multi‑week view, they note AUD/USD could continue rising, though a retest of the 0.7277 year‑to‑date high is uncertain.

Aussie Dollar bias higher but limited

"24-HOUR VIEW: AUD traded in a quiet manner between 0.7205 and 0.7231 two days ago and closed largely unchanged at 0.7216 (-0.03%). Yesterday, we stated that “the price action provides no fresh clues, and AUD could trade within a range of 0.7205/0.7235.” AUD then traded between 0.7210 and 0.7238 before closing largely unchanged again at 0.7217 (+0.01%). Momentum indicators are mostly flat, and today, we expect AUD to trade in a range between 0.7200 and 0.7235."

"1-3 WEEKS VIEW: We have been holding the same view since last Friday (04 Sep, spot at 0.7205), when we indicated that AUD “could edge higher, but any advance is likely to stay within a 0.7160/0.7240 range.” Yesterday, AUD edged to a high of 0.7238 before easing to close at 0.7217 (+0.01%). There has been no further increase in upward momentum, and we continue to hold the same view for now."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)