AUD/USD still neutral near-term - UOB

The research team at UOB Group maintains its neutral perspective on the Aussie dollar in the next 1-3 weeks.

Key Quotes

“We shifted to a neutral stance yesterday and there is no change to our view”.

“That said, the sharp drop yesterday has clearly increased the risk of further sustained AUD weakness in the coming days but this is likely only if there is a clear break below 0.7200”.

“Overall, this pair is likely to stay on the defensive unless it can reclaim 0.7300 within the next few days”.