AUD/USD keeps the 0.7500/0.7660 range – UOB

In opinion of the research team at UOB Group, AUD/USD remains poised to extend its consolidative theme between 0.7500 and 0.7660 in the next 1-3 weeks.

Key Quotes

“We shifted from bearish to neutral AUD yesterday and there is no change to the view”.

“However, the rebound from the low is gaining momentum quickly and could extend higher in the coming days but 0.7660 is a very strong resistance and only a clear break above this level would indicate the start of a bullish phase. Support is at 0.7540 ahead of 0.7500”.