AUD/USD seen slipping towards 0.7475/80 – UOB

Analysts at UOB Group noted the Aussie dollar could grind lower to the 0.7475/80 band in the near term.

Key Quotes

“The price action is line with our view wherein we expect the current pull-back in AUD to extend lower to 0.7475/80”.

“Based on the internal momentum, a move below this level would not be surprising but a sustained drop below this level appears unlikely at this stage”.

“Resistance is at 0.7585 and yesterday high of 0.7635/40 is unlikely to come under threat, at least not for the next couple of days”.