Analysts see potential for further gains in the Australian Dollar if it stays above 0.7025 against the USD.
The Australian Dollar is consolidating between 0.7050 and 0.7075 after failing to sustain a brief spike to 0.7091. Intraday momentum remains neutral, with no clear directional bias emerging from recent price movements.
UOB analysts maintain a constructive outlook for AUD/USD over the next 1-3 weeks, citing strong support at 0.7025. A close above 0.7075 could open the door for a move toward 0.7100, with resistance seen in the 0.7075-0.7090 zone.
Recent trading sessions saw AUD dip to 0.7044 before rebounding to 0.7067, settling near 0.7060. The lack of sustained momentum suggests range-bound trading in the near term, though the broader bias remains tilted to the upside.