The Australian Dollar (AUD) is expected to trade in a range between 0.6550 and 0.6600. In the longer run, the potential for further sustained decline may be limited; the next level to monitor is 0.6520, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.

Next level to monitor is 0.6520

24-HOUR VIEW: “AUD traded in a range between 0.6540 land 0.6585 yesterday, closing slightly higher at 0.6582 ( 0.15%). Momentum indicators are turning neutral, and AUD is expected to continue to trade in a range, likely between 0.6550 and 0.6600.”