In the opinion of UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang, losses in AUD/USD could accelerate once 0.6365 is breached.
In the opinion of UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang, losses in24-hour view: Last Friday, AUD traded in a range of 0.6380/0.6428 before ending the day little changed at 0.6405 . We view the price actions as part of a consolidation phase. Today, AUD is likely to trade sideways in a range of 0.6390/0.6450.
Next 1-3 weeks: The AUD weakness that started late last month is still intact. However, short-term conditions are severely oversold, and the pace of any further weakness is likely to be slow. To look at it another way, in order for AUD to weaken further, it must break and stay below last week’s low of 0.6365. The chance of AUD breaking clearly below 0.6365 will remain intact as long as it stays below 0.6480 . Looking ahead, the next support below 0.6365 is at 0.6320.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
![Forex analysis: AUD/JPY, AUD/USD, EUR/JPY, EUR/USD, GBP/JPY, and GBP/USD [Video]](https://i.headtopics.com/images/2023/8/20/fxstreetnews/forex-analysis-aud-jpy-aud-usd-eur-jpy-eur-usd-gbp-forex-analysis-aud-jpy-aud-usd-eur-jpy-eur-usd-gbp-328017ABB06E331690A45E332944FFF1.webp?w=640)
Forex analysis: AUD/JPY, AUD/USD, EUR/JPY, EUR/USD, GBP/JPY, and GBP/USD [Video]Watch the video for the key trading levels for the week ahead for AUD/JPY, AUD/USD, EUR/JPY, EUR/USD, GBP/JPY, and GBP/USD.
Weiterlesen »
AUD/USD portrays cautious mood near 0.6400, China, central bankers in the spotlightAUD/USD holds lower grounds near 0.6400, struggling for clear directions after refreshing the yearly low during a five-week downtrend. The Aussie pair
Weiterlesen »
AUD/USD Price Analysis: Pair treads water above 0.6400, technical indicates selling biasAUD/USD struggles to hold ground from continuing the losing streak, hovering around 0.6400 during the Asian session on Monday. The AUD/USD pair is exp
Weiterlesen »
FX weekly — DXY and 14 currency pair levels and targetsAs DXY traded massive overbought over the past 3 and 4 weeks without a correction, AUD/USD and NZD/USD were directed to trade current Richter Scale ov
Weiterlesen »
AUD/USD oscillates in a narrow band around 0.6400, reacts little to PBoC's 10 bps rate cutThe AUD/USD pair extends its sideways consolidative price action for the second successive day on Monday and seesaws between tepid gains/minor losses,
Weiterlesen »