AUD/USD keeps its neutral perspective – UOB

The outlook on AUD/USD remains on the neutral side, according to analysts at UOB Group.

Key Quotes

“While AUD moved above 0.7600 yesterday (high of 0.7616), it was unable to hold on to its gains”.

“As highlighted, only a daily closing above 0.7600 would indicate the start of a sustained up-move”.

“The rapid pull-back from the high suggests that the short-term upward pressure has eased and the outlook for AUD remains neutral for now”.

“To put it another way, this pair has likely moved back into a 0.7440/0.7600 range and only a clear break out of this range would indicate the start of a sustained directional move”.