AUD/USD consolidation lies ahead – UOB Group

FXStreet (Edinburgh) - Market strategists at UOB Group see the current price action in AUD/USD as part of a broader consolidation pattern.

Key Quotes

“AUD rebounded without testing the 0.8680 support”.

“A temporary short-term low is likely in place and the current movement is likely part of a consolidation phase”.

“Expect sideway trading for today, likely between 0.8715 and 0.8775”.