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AUD/USD consolidation ahead? – UOB Group

FXStreet (Edinburgh) - Quek Ser Leang, Market Strategist at UOB Group, believes that the current AUD/USD's price action would be part of a broader consolidation pattern.

Key Quotes

“The intraday target indicated at 0.8915/20 yesterday was not met with a low of 0.8927”.

“While the undertone for this pair is still weak, the current rebound is likely the early part of a consolidation phase”.

“Expect range trading for today, likely between 0.8960 and 0.9015”.

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