AUD/USD clings to the neutral stance short term – UOB

The prospect for the Aussie Dollar stays neutral in the near term horizon, likely to trade in the 0.7540/0.7660 range.

Key Quotes

“Instead of extending its rebound, AUD traded mostly sideways yesterday within a relatively narrow range of 0.7587/0.7615. The undertone is still generally positive and from here, 0.7580 is expected to hold but any up-move is expected to face solid resistance at 0.7635 (next resistance is at 0.7660)”.

“AUD registered an ‘inside day’ yesterday and there is no change to the current neutral outlook for AUD. This pair is expected to trade sideways, likely between 0.7540 and 0.7660”.