In opinion of FX Strategists at UOB Group, AUD/USD has now moved into a consolidative phase between 0.7640 and 0.7805. Key Quotes 24-hour view: “AUD traded between 0.7729 and 0.7798 last Friday, narrower than our expected range of 0.7720 and 0.7805. While it closed at 0.7768, it weakened considerably after opening this morning. The rapid decline appears to be running ahead of itself and while the risk is on the downside, any weakness is unlikely to challenge the major support at 0.7640 (0.7680 is already quite a strong level). Resistance is at 0.7745 followed by 0.7780.” Next 1-3 weeks: “We highlighted last Friday (08 Jan, spot 0.7770) that ‘upward momentum has been dented’ and we added, AUD ‘has to move and stay above 0.7805 or odds for a move to 0.7840 would diminish’. While our ‘strong support’ level at 0.7700 is still intact, the weak price actions after opening this morning suggests that the positive phase in AUD that started earlier last week (see annotations in the chart below) has run its course. For now, the current movement is viewed as part of a 0.7640/0.7805 range. Looking forward, a clear break of 0.7640 would indicate the start of a more sustained pull-back 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 SushiSwap’s trading volume skyrockets, SUSHI price set to follow FX Street 2 years In opinion of FX Strategists at UOB Group, AUD/USD has now moved into a consolidative phase between 0.7640 and 0.7805. Key Quotes 24-hour view: “AUD traded between 0.7729 and 0.7798 last Friday, narrower than our expected range of 0.7720 and 0.7805. While it closed at 0.7768, it weakened considerably after opening this morning. The rapid decline appears to be running ahead of itself and while the risk is on the downside, any weakness is unlikely to challenge the major support at 0.7640 (0.7680 is already quite a strong level). Resistance is at 0.7745 followed by 0.7780.” Next 1-3 weeks: “We… 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.