Analysts see the Australian Dollar trading sideways for 1-3 weeks between 0.6890 and 0.6975 after failing to break higher.
The Australian Dollar has lost its tentative upside momentum against the US Dollar, trading in a tight range between 0.6920 and 0.6960. Intraday levels have shifted slightly higher than previously expected, with AUD/USD closing at 0.6950 last week, up 0.12%.
Earlier projections suggested a potential break above 0.6980 if support held at 0.6900, but the pair failed to gain traction. Over the next 1-3 weeks, the range is expected to hold between 0.6890 and 0.6975, with no immediate catalyst for a breakout.
Longer-term, the outlook remains negative, with focus on a move below 0.6835 toward 0.6707 over the next 1-3 months.