UOB analysts see AUD/USD momentum holding toward 0.7200, with near-term support at 0.7105 after a sharp 0.78% gain.
The Australian dollar surged to 0.7180 against the US dollar before closing at 0.7170, marking a 0.78% intraday gain. Analysts note the rally appears stretched but lacks signs of a near-term pause, with scope to edge higher toward 0.7200 resistance.
Earlier projections expected AUD/USD to trade sideways between 0.7105 and 0.7135, but the pair broke decisively above 0.7150, invalidating prior forecasts. The 0.7200 level remains a major resistance, while 0.7105 acts as critical support to sustain upward momentum.
Intraday, a breach below 0.7140 could signal easing upward pressure, though the broader outlook remains constructive as long as 0.7105 holds.