AUD/USD could slip back to lower levels ahead of some consolidation in the near term, noted FX Strategists at UOB Group. Key Quotes 24-hour view: “AUD traded between 0.6743 and 0.6788 yesterday, lower and narrower than our expected sideway trading range of 0.6755/0.6805. Downward pressure has picked up slightly and AUD could edge lower to 0.6730 from here. The next support at 0.6705 is not expected to come into the picture. Resistance is at 0.6770 but only a move above 0.6785 would indicate the current mild downward pressure has eased”. Next 1-3 weeks: “The positive underlying tone that we highlighted on Monday (14 Oct, spot at 0.6795) has dissipated as AUD slumped by -0.39% yesterday (0.6751). The price action was not exactly surprising as we highlighted “further AUD strength only likely if there is a NY closing above 0.6805″. From here, AUD is deemed to have moved into a sideway-trading phase even though the near-term bias is for it to probe the bottom of the expected 0.6670/0.6785 range first”. 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 French FinMin Le Maire: There is a glimmer of hope on Brexit deal FX Street 4 years AUD/USD could slip back to lower levels ahead of some consolidation in the near term, noted FX Strategists at UOB Group. Key Quotes 24-hour view: "AUD traded between 0.6743 and 0.6788 yesterday, lower and narrower than our expected sideway trading range of 0.6755/0.6805. Downward pressure has picked up slightly and AUD could edge lower to 0.6730 from here. The next support at 0.6705 is not expected to come into the picture. Resistance is at 0.6770 but only a move above 0.6785 would indicate the current mild downward pressure has eased". Next 1-3 weeks: "The positive underlying tone that we highlighted… 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.
