United Overseas Bank forecasts neutral short-term trading for AUD/USD but maintains a bearish outlook over the next three months.
AUD/USD has entered a tight consolidation phase, trading between 0.6883 and 0.6921 after a rebound to 0.6930. The pair closed at 0.6894, with intraday expectations set between 0.6880 and 0.6915.
Over the next 1-3 weeks, the pair is expected to remain neutral within a 0.6870–0.6980 range, though downward momentum persists. The 1-3 month outlook remains negative, targeting 0.6707 if support at 0.6835 breaks.
Recent price action reflects a range-trading phase, with no clear breakout signal yet. The bank revised its short-term view from negative to neutral after downward momentum faded.