AUD/USD points to consolidation – UOB

Analyst at UOB Group sees the Aussie dollar in a sideline pattern in the near term.

Key Quotes

“The break of 0.7355 has shifted the 2 week bearish outlook to neutral”.

“The lack of follow through above 0.7355 indicates lackluster momentum and the current movement is viewed as the start of a consolidation phase, likely between 0.7200 and 0.7400”.