There is a chance for Australian Dollar (AUD) to test 0.6670; the major support at 0.6655 is not expected to come into view. In the longer run, the current price movements are likely part of a range-trading phase between 0.6655 and 0.6745, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.
💡 DMK Insight
The AUD’s potential test of 0.6670 is crucial for traders watching the range-bound phase. With major support at 0.6655 likely holding, this suggests a consolidation period between 0.6655 and 0.6745. Traders should monitor this range closely, as a breakout above 0.6745 could signal a shift in momentum, while a drop below 0.6655 might trigger further selling pressure. Given the current market sentiment, which appears cautious, the AUD’s movements could also be influenced by broader economic indicators, such as commodity prices and global risk appetite. If you’re trading AUD pairs, keep an eye on these levels and consider adjusting your strategies based on how the price reacts around them.
📮 Takeaway
Watch for AUD testing 0.6670; a breakout above 0.6745 could signal a bullish shift, while a drop below 0.6655 may lead to further declines.





