The Australian dollar (AUD) is expected to consolidate between 0.6455 and 0.6510 vs. US dollar (USD). In a longer period of time, the rapid accumulation of momentum suggests that AUD is likely to trade in ascending distortion towards 0.6550, UOB Group Group Quek Ser Leang and Peter Chia Note.
Up upwards quickly accumulates
A 24 -hour view: “Aud has risen to 0.6500 last Friday. We indicated in yesterday’s early Asian session that” the rapid procedure seems excessive, but there is room for Aud to increase above 0.6515, highly seen at the beginning of this month. ” The AUD then rose to 0.6537, withdrawing back to 0.6490 (-0.13%) does not apply today.
Looking at 1-3 weeks: “We revised our opinion on positive yesterday (May 26, on site 0.6495), suggesting that” momentum has been accumulated rapidly and we expect AUD to trade with ascending distortion towards 0.6550. “
