United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann note AUD/USD is consolidating intraday between 0.7050 and 0.7075 after a brief spike to 0.7091 failed to build momentum. On a 1–3 week view, they maintain that upside risk persists as long as the Australian Dollar holds above strong support at 0.7025, with a close above 0.7075 opening scope toward 0.7100 and a broader resistance zone at 0.7075/0.7090.
Australian Dollar holds constructive bias
“24-HOUR VIEW: AUD rose briefly to 0.7091 on Wednesday and then dropped back down. When AUD was at 0.7065 in the early Asian session yesterday, we pointed out that “the brief advance did not…
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