The negative view on AUD/USD remains well and sound and it could attempt a move to the mid-0.6500s in the short-term horizon, in opinion of FX Strategists at UOB Group. AUD last Friday was that it ‘could dip below 0.6600 but the next support at 0.6570 is likely out of reach’. AUD subsequently dropped to 0.6586 before rebounding. Downward pressure has eased and the current movement is viewed as part of a consolidation phase. In other words, AUD is expected to trade sideways for today, likely between 0.6580 and 0.6640.”


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