UOB Group analysts Quek Ser Leang and Peter Chia project the AUD/USD pair to fluctuate within a 0.6250/0.6300 range. Longer-term momentum suggests a potential for further AUD depreciation, although reaching 0.6185 remains uncertain.
Short-term analysis indicates that after a decline to 0.6219, the AUD rebounded to close at 0.6279. The current assessment suggests limited upward potential, with an anticipated trading range of 0.6250/0.6300 for the immediate future.
Medium-term analysis maintains a bias for continued AUD decline, contingent on remaining below 0.6300. A decisive breach of this level would negate the bearish outlook, suggesting a shift towards range-bound trading. The analysts emphasize that it is premature to definitively forecast a move towards 0.6185.
