AUD/USD: Potential for further gains – UOB Group
Source Fxstreet
The UOB Group report by Quek Ser Leang and Lee Sue Ann highlights that the Australian Dollar is likely to continue its upward trajectory, with potential resistance at 0.7050. The report notes that while further strength is anticipated, overbought conditions may limit the extent of the rally. Support levels are identified at 0.6965 and 0.6940.
Australian Dollar strength expected
"Upward momentum remains strong, but it is uncertain how much further this rally can extend; the next resistance is at 0.7050."
"While further AUD strength is not ruled out, deeply overbought conditions suggest that any advance is unlikely to break clearly above 0.7050."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Tether emerges as one of the world’s most aggressive gold buyers, rivaling and in some quarters surpassing central banks.It comes as the crypto firm progressively converts stablecoin profits into phys
Bitcoin encounters mounting selling pressure as January 2026 ends, including a $2.24 billion drop in stablecoin market capitalization, a year-low Coinbase premium, and a sharp decline in mining hashra
Gold (XAU/USD) attracts fresh buyers following the previous day's late pullback from levels beyond the $5,100 mark, or the all-time high, and sticks to the positive bias for the seventh straight day on Tuesday.
AUD/USD remains above 0.6900 near 16-month highsAUD/USD holds near its 16-month high of 0.6940, reached in the previous session, currently trading around 0.6920 during the Asian hours on Tuesday. Traders now await the December Consumer Price Index (CPI) data due Wednesday for further clues on the Reserve Bank of Australia’s (RBA) policy outlook.
AUD/USD holds near its 16-month high of 0.6940, reached in the previous session, currently trading around 0.6920 during the Asian hours on Tuesday. Traders now await the December Consumer Price Index (CPI) data due Wednesday for further clues on the Reserve Bank of Australia’s (RBA) policy outlook.
Gold prices hit an all-time high over $5,200 an ounce as geopolitical uncertainty and a weakening dollar drive strong demand for safe-haven assets. Other precious metals like silver and platinum also near record highs.
Related Instrument
