AUD/USD TECHNICAL OUTLOOK
AUD/USD TECHNICAL OUTLOOK
The Australian Dollar (AUD) has experienced a sharp rally, gaining momentum to test the 0.6195 level against the US Dollar (USD).
This surge is attributed to increased risk appetite following President Donald Trump's recent policy shifts on trade tariffs.
In the longer term, UOB Group's FX analysts, Quek Ser Leang and Peter Chia, anticipate that AUD will trade within a defined range of 0.6000 to 0.6290.
This projection suggests a period of consolidation, with the currency oscillating between these support and resistance levels.
President Trump's recent U-turn on reciprocal tariffs has significantly influenced market sentiment, leading to a surge in risk appetite.
this policy shift has also escalated the US-China trade war, introducing volatility and potential challenges to sustained currency gains.
The 0.6195 level is identified as a critical resistance point.
A successful test and breach above this threshold could signal a stronger bullish trend.
Conversely, failure to surpass this level may result in a pullback, reinforcing the anticipated range-bound trading scenario.
