AUD/USD: Expected to trade in a range between 0.6510 and 0.6560 – UOB Group

Australian Dollar (AUD) is expected to trade in a range between 0.6510 and 0.6560. In the longer run, for the time being, AUD is likely to trade in a 0.6490/0.6580 range, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

AUD is likely to trade in a range

24-HOUR VIEW: "Last Friday, we indicated that 'the outlook is mixed'. We also indicated that AUD 'could trade in a range between 0.6510 and 0.6560'. AUD subsequently dipped to a low of 0.6504, rebounded to 0.6551 and then closed modestly higher at 0.6537 (+0.09%). The price movements still appear to be part of a range-trading phase, and we continue to expect AUD to trade between 0.6510 and 0.6560."

1-3 WEEKS VIEW: "Not much has changed since our update from last Friday (14 Nov, spot at 0.6530). As highlighted, for the time being, we continue to expect AUD to trade in a 0.6490/0.6580 range."