UOB economists predict an AUD/USD decline with less momentum.
24-hour access: On Thursday, the Australian dollar fell to 0.6514 before rising again. Oversold conditions and slowing momentum suggest low downside risk. The Australian dollar is expected to trade between 0.6595 and 0.6553 today. Price fluctuations are consolidating, and the market is likely to trade in a range between 0.6540 and 0.6600.

Over the past two weeks, bearish AUD perspectives have been maintained, with a potential low near 0.6460, near the year’s low. However, the AUD recovered on Friday, reaching a high of 0.6610. The likelihood of falling to 0.6460 decreases, but a breach of 0.6620 would indicate no further ground loss.



4 hour daily chart;

https://www.tradingview.com/x/BOkkbiLt/

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