OctaFX | OctaFX Forex Broker
Open trading account

AUD/USD expected to keep the side-lined trading – UOB

AUD/USD is seen within a 0.5650-0.6250 range in the next weeks, noted FX Strategists at UOB Group.

Key Quotes

24-hour view: “We highlighted last Friday that AUD “could move to 0.6150” and added; “prospect for a move above 0.6200 is not high”. AUD subsequent rose to 0.6200 before easing off. The rapid rise is moving ahead of itself and further sustained AUD strength is unlikely for today. AUD is more likely to take a breather from its recent rally and trade between 0.6040 and 0.6190.”

Next 1-3 weeks: “There is not much to add to the update from Wednesday (25 Mar, spot at 0.5960). As highlighted, AUD is likely to ‘chop around’ around within a broad range for now, likely between 0.5650 and 0.6250. Only a clear above 0.6250 would indicate that last week’s 0.5510 low is more significant bottom than expected currently.”

JPY Futures: Extra appreciation looks unlikely

Open interest in JPY futures markets shrunk for the second consecutive session on Friday, now by around 3.6K contracts in light of flash readings from
Read more Previous

EUR/USD: Bearish pressure eased

Coronavirus crisis extended some support to the USD’s safe-haven status on the first day of the week, Haresh Menghani, an analyst at FXStreet reports.
Read more Next
Start livechat