Select Language

AUD/USD: Major support at 0.6430 is unlikely to come under threat - UOB Group

Breaking news

AUD/USD: Major support at 0.6430 is unlikely to come under threat - UOB Group

  • X
  • facebook
  • LINE
  • RSS

  • X
  • facebook
  • LINE
  • RSS
update 2025.06.13 20:17
AUD/USD: Major support at 0.6430 is unlikely to come under threat - UOB Group

update 2025.06.13 20:17

There is scope for Australian Dollar (AUD) to decline to 0.6460 against US Dollar (USD); the major support at 0.6430 is unlikely to come under threat. In the longer run, AUD appears to have moved into a range-trading phase between 0.6430 and 0.6550, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

AUD appears to have moved into a range between 0.6430 and 0.6550

24-HOUR VIEW: "We expected AUD to 'trade in a range between 0.6490 and 0.6535' yesterday. However, AUD dipped to 0.6478, rebounded to 0.6534, and then closed at 0.6532. At the time of writing in the early Asian session, AUD has fallen sharply from the closing level. The decline has scope to extend to 0.6460. The major support at 0.6430 is unlikely to come under threat. Resistance levels are at 0.6515 and 0.6535."

1-3 WEEKS VIEW: "We have expected a positive bias in AUD since early last week. In our latest narrative from last Friday (06 Jun, spot at 0.6510), we indicated that 'the bias remains on the upside, but it remains to be seen if AUD can break clearly above 0.6555.' Two days ago, AUD rose briefly to 0.6546. Yesterday, AUD dipped below our 'strong support' level at 0.6480 (low of 0.6478). The breach of our 'strong support' level indicates that the upside bias has faded. The current price movements are likely the early stages of a range-trading phase, and we expect AUD to trade between 0.6430 and 0.6550 for the time being."


Date

Created

 : 2025.06.13

Update

Last updated

 : 2025.06.13

Related articles


Show more

FXStreet

Financial media

arrow
FXStreet

FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.

Was this article helpful?

We hope you find this article useful. Any comments or suggestions will be greatly appreciated.  
We are also looking for writers with extensive experience in forex and crypto to join us.

please contact us at [email protected].

Thank you for your feedback.
Thank you for your feedback.

Most viewed

WTI rises above $67.00 due to rising supply concerns, US tariffs delay

West Texas Intermediate (WTI) Oil price extends its winning streak for the third successive session, trading around $67.60 per barrel during the Asian hours on Wednesday.
New
update2025.07.09 16:54

Pound Sterling trades with caution as Trump unveils fresh tariff threats

The Pound Sterling (GBP) trades cautiously around 1.3600 against the US Dollar during European trading hours on Wednesday, with the GBP/USD pair broadly stable after United States (US) President Donald Trump threatened a series of new tariffs on Tuesday.
New
update2025.07.09 16:31

Forex Today: Tariff uncertainty weighs on mood as attention turns to FOMC Minutes

Here is what you need to know on Wednesday, July 9:
New
update2025.07.09 16:30

GBP/JPY refreshes yearly high near 200.00 on Japanese Yen's continued underperformance

The GBP/JPY pair extends its winning streak for the third trading day on Wednesday.
New
update2025.07.09 16:27

EUR/GBP loses momentum below 0.8650 as traders brace for EU-US deal update

The EUR/GBP cross loses traction to around 0.8620 during the early European session on Wednesday. The Euro (EUR) softens against the Pound Sterling as renewed tariff threats from US President Donald Trump unsettle markets.
New
update2025.07.09 16:05

EUR/JPY Price Forecast: Keeps bullish vibe above 172.00, overbought RSI warrants caution for bulls

The EUR/JPY cross extends its upside to near 172.20 during the early European session on Wednesday. The Japanese Yen (JPY) edges lower against the Euro (EUR) due to concerns about the economic fallout from US President Donald Trump's 25% tariffs from a new deadline of August 1 on Japanese goods.
New
update2025.07.09 15:10

Crude Oil price today: WTI price bearish at European opening

West Texas Intermediate (WTI) Oil price falls on Wednesday, early in the European session. WTI trades at $67.17 per barrel, down from Tuesday's close at $67.29.Brent Oil Exchange Rate (Brent crude) is also shedding ground, trading at $69.48 after its previous daily close at $69.56.
New
update2025.07.09 15:06

USD/CAD trades with positive bias below 1.3700; looks to FOMC minutes for fresh impetus

The USD/CAD pair regains positive traction during the Asian session on Wednesday and climbs to the 1.3700 neighborhood, closer to over a one-week high touched the previous day. Moreover, the fundamental backdrop suggests that the path of least resistance for spot prices is to the upside.
New
update2025.07.09 14:23

Silver Price Forecast: XAG/USD drops to near $36.50 despite escalating global trade jitters

Silver price (XAG/USD) falls to near $36.50 during Asian trading hours on Wednesday.
New
update2025.07.09 14:11

USD/CHF strengthens above 0.7950 amid confusion over tariff policies

The USD/CHF pair gathers strength around 0.7975 during the early European session on Wednesday, bolstered by a firmer US Dollar (USD). However, the concerns about renewed trade tensions triggered by US President Donald Trump might cap the upside for the pair.
New
update2025.07.09 14:11

Disclaimer:arw

All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.

The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.

  • Facebook
  • Twitter
  • LINE

Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy

I agree
share
Share
Cancel