AUD/USD: Further decline could retest 0.6450 – UOB – by pabspiovano AUDUSD Currencies Majors Banks
to drop to the mid-0.6400s in the next few weeks, comment UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang.24-hour view: “Last Friday, we held the view that AUD ‘could weaken further but severely oversold conditions suggest it is unlikely to threaten 0.6450 today’. We stated, ‘Resistance is at 0.6525, followed by 0.6545’. Our view for GBP to weaken did not quite materialize as it eked out a fresh low of 0.6490 and then rebounded to 0.6544 before closing at 0.6518 .
Next 1-3 weeks: “There is not much to add to our update from last Friday . As highlighted, the weakness in AUD that started two weeks ago has yet to stabilize. In other words, AUD could weaken further to 0.6450. On the upside, a breach of 0.6590 would suggest the weakness in AUD has stabilized.”Information on these pages contains forward-looking statements that involve risks and uncertainties.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Pairs in Focus This Week \u2013 AUD/USD, USD/JPY, GBP/USDGet the Forex Forecast using fundamentals, sentiment, and technical position analyses for major pairs for the week of May 28th, 2022 here.
Read more »
AUD/USD rebounds from below 0.6530 as USD Index drops post US debt-ceiling raise approvalThe AUD/USD pair has shown a solid recovery from below 0.6530 amid a sheer sell-off in the US Dollar Index (DXY). The Aussie asset is aiming to recapt
Read more »
EUR/USD: A break below 1.0650 appears unlikely – UOBUOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang suggest a drop to 1.0650 and below seems not favoured in EUR/USD for the time
Read more »
GBP/USD keeps the bearish outlook unchanged – UOBIn the view of UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang, the negative view around GBP/USD remains intact for the time b
Read more »
AUD/USD retreats from 0.6530 as a rebound in US PCE supports more rate hikes from FedThe AUD/USD pair has sensed selling pressure around 0.6525 after a less-confident rebound in the early Asian session. The Aussie asset is expected to
Read more »
AUD/USD recovery eyes 0.6550 on mild appreciation to US debt ceiling deal, focus on Aussie inflation, US NFPAUD/USD recovery eyes 0.6550 on mild appreciation to US debt ceiling deal, focus on Aussie inflation, US NFP – by anilpanchal7 AUDUSD NFP Inflation Politics RiskAversion
Read more »