AUD/USD no room for further downside? – UOB

In view of the research team at UOB Group, pullbacks in the Aussie dollar remain somewhat limited.

Key Quotes

“While the undertone for AUD is weak, lackluster momentum indicators continue to suggest that the current weakness is unlikely to be sustained”.

“Overall, we prefer to hold a neutral view for now and would reassess our view if there is clear move beyond the current expected 0.7150/0.7350 range”.