UOB analysts see near-term range trading for the pair between 0.6880 and 0.6901 after a sharp decline.
The Australian dollar recovered slightly to 0.6901 after dropping to a low of 0.6883 against the US dollar. The move follows a sharp sell-off, with analysts noting deeply oversold conditions in the short term.
Prior to the rebound, AUD/USD had faced downward pressure, though the pair remains vulnerable. UOB analysts expect range-bound trading between 0.6880 and 0.6901 in the near term, citing technical factors rather than a shift in fundamentals.
No immediate market reaction was specified, but the oversold signal may limit further downside in the coming sessions.