The Australian Dollar (AUD) is expected to edge lower to 0.6850; the major support at 0.6820 is unlikely to come under threat.
The Australian Dollar is expected to edge lower to 0.6850; the major support at 0.6820 is unlikely to come under threat. AUD has likely entered a range trading phase, expected to be between 0.6820 and 0.6935, UOB Group FX analysts Quek Ser Leang and Lee Sue Ann note. AUD has likely entered a range trading phase 24-HOUR VIEW: “After AUD rose to 0.
Today, we expect AUD to edge lower to 0.6850. The major support at 0.6820 is not expected to come under threat. Resistance levels are at 0.6900 and 0.6920.” 1-3 WEEKS VIEW: “In our most recent narrative from Monday , we indicated that ‘while the recent price action suggests that AUD is likely to edge higher, it remains to be seen if there is enough momentum for AUD to reach 0.6980.’ We added, ‘a breach of 0.6860 would mean that AUD is not advancing further. In NY trade, AUD fell to a low of 0.
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