United Overseas Bank's Quek Ser Leang expects the AUD/USD pair to trade within a narrow intraday range of 0.6915 to 0.6950. According to FX Street, this range is likely to persist over the next one to three weeks, with a tentative upside risk above 0.6980. Strong support is seen at the 0.6900 level, suggesting limited downside pressure in the near term.
Quek’s outlook indicates a cautious but slightly optimistic tone for the Australian dollar against the US dollar in the medium term. The forecasted range reflects current market conditions where volatility remains subdued, but the potential for upside remains if key resistance levels are breached.
For Japanese investors, monitoring AUD/USD movements is important given the currency pair’s influence on commodity prices and regional trade dynamics, which can impact broader FX and equities markets in Asia.