AUD/USD neutral near term – UOB

Analysts at UOB Group have noted the neutral stance on the Aussie dollar in the next 1-3 weeks.

Key Quotes

“Our expectation for the recent drop in AUD to extend lower to 0.7520 was wrong as the stop-loss at 0.7690 was breached earlier”.

“The outlook from here is viewed as neutral and we expect this pair to trade within a broad 0.7550/0.7770 range (essentially within last week’s range)”.