AUD/USD: Back inside the 0.6575-0.6700 range – DBS

Source Fxstreet

AUD/USD peaked at 0.68 on July 11 and fell to 0.6643 on Monday, back inside the 0.6575-0.6700 range seen between mid-May and early July, DBS senior FX strategist Philip Wee.

AUD to rise later in the coming months

“AUD/USD peaked at 0.68 on July 11 and fell to 0.6643 on Monday, back inside the 0.6575-0.6700 range seen between mid-May and early July”

“Apart from China’s uninspiring economy, the Australian Dollar (AUD) has been under pressure alongside commodities over the past week due to uncertainties over the US Presidential elections. For example, Copper fell 17% from the year’s high of USD505/lb.70 (May 21) to 420 on Monday.”

“However, US equities rallied in the overnight market after US President Joe Biden ended his re-election bid with Democrats uniting behind Vice President Kamala Harris as the party’s nomination to take on Donald Trump at the elections. A less one-sided race to the White House coupled with Fed cuts could weaken the USD and support the AUD later in the coming months.”

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Solana (SOL) Faces Continued Downside Risk—More Losses LikelySolana started a fresh decline from the $155 zone. SOL price is now consolidating near $145 and might extend losses below the $142 support.
Author  NewsBTC
May 06, Tue
Solana started a fresh decline from the $155 zone. SOL price is now consolidating near $145 and might extend losses below the $142 support.
placeholder
Analysts Highlight 4 Reasons Why ETH Price Could Rebound Strongly in MayEthereum (ETH) has declined for five consecutive months. However, it enters May with rising optimism.
Author  Beincrypto
May 07, Wed
Ethereum (ETH) has declined for five consecutive months. However, it enters May with rising optimism.
placeholder
Ethereum Price Ready to Surge—$2,000 Level Could Be Within ReachEthereum price started a fresh increase above the $1,800 zone. ETH is now rising and attempting a move above the $1,850 resistance. Ethereum started a fresh recovery wave above the $1,820 resistance.
Author  NewsBTC
Yesterday 03: 39
Ethereum price started a fresh increase above the $1,800 zone. ETH is now rising and attempting a move above the $1,850 resistance. Ethereum started a fresh recovery wave above the $1,820 resistance.
placeholder
Sui Price Forecast: SUI bulls aim for 15% gains as open interest and bullish bets increase among tradersSui (SUI) price extends recent gains, soaring10% higher at the time of writing on Thursday and approaching its key resistance level at $3.65.
Author  FXStreet
23 hours ago
Sui (SUI) price extends recent gains, soaring10% higher at the time of writing on Thursday and approaching its key resistance level at $3.65.
placeholder
Ethereum To ‘Witness Big Breakout’ In The Next Two Weeks If This Level HoldsAs price continues to trade sideways, Ethereum (ETH) has reclaimed a crucial level, which could kickstart a breakout toward the $2,100 resistance.
Author  NewsBTC
23 hours ago
As price continues to trade sideways, Ethereum (ETH) has reclaimed a crucial level, which could kickstart a breakout toward the $2,100 resistance.
Related Instrument
goTop
quote