FX Strategists at UOB Group keep the consolidative view unchanged around AUD/USD for the time being. Key Quotes 24-hour view: “We expected AUD to ‘drift lower’ yesterday but it slumped to a low of 0.6674 before recovering slightly. Despite the relatively rapid drop, downward momentum has not improved by much. That said, it is too early to expect a recovery. AUD is more likely to consolidate and trade at these lower levels, expected to be between 0.6670 and 0.6715.” Next 1-3 weeks: “After trading in a quiet manner and closing around 0.6715 for a few days, AUD lurched lower and dropped to 0.6674 yesterday (18 Feb). The underlying tone has weakened but at this stage, we continue to hold the same view from last Thursday (13 Feb, spot at 0.6730) wherein AUD is expected to trade sideways within a 0.6650/0.6780 range. That said, after yesterday’s price action, the bottom of the expected range is more vulnerable but AUD has to register a NY closing below 0.6650 or it may not have enough momentum to embark on a sustained decline. To look at it another way, the current sideway-trading phase is likely to be resolved by another down-leg in AUD.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Copper Futures: Extra gains stay in the pipeline FX Street 2 years FX Strategists at UOB Group keep the consolidative view unchanged around AUD/USD for the time being. Key Quotes 24-hour view: “We expected AUD to ‘drift lower’ yesterday but it slumped to a low of 0.6674 before recovering slightly. Despite the relatively rapid drop, downward momentum has not improved by much. That said, it is too early to expect a recovery. AUD is more likely to consolidate and trade at these lower levels, expected to be between 0.6670 and 0.6715.” Next 1-3 weeks: “After trading in a quiet manner and closing around 0.6715 for a few days, AUD lurched lower and… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.