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AUD/USD: neutral and based above recent lows - UOB

FXStreet (Guatemala) - Analysts at UOB Group explained that the outlook for AUD/USD remains neutral.

Key Quotes:

"Improving upward momentum but too early to expect a sustained up-move. The break back above 0.7055 suggests that the recent low of 0.6934 is the extent of the bearish phase (0.6895 target is not met).

While the up-move is gaining momentum, it is too early to expect a sustained up-move. We are holding a neutral view for now (albeit with a bias on the upside) and expect this pair to trade between 0.6935 and 0.7150 for the next couple of weeks."

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