AUD/USD keeps the neutral stance – UOB

The perspective for the Aussie dollar remains tilted to the neutral side vs. the greenback in the next 1-3 weeks, according to the research team at UOB Group.

Key Quotes

“We just turned neutral yesterday and there is no change to the view”.

“Despite the overnight rebound, the pull-back from the late March peak of 0.7723 appears to have scope to extend lower in the days ahead”.

“However, any further AUD weakness is likely limited to the major support at 0.7475/80”.