Analysts at UOB Group, Quek Ser Leang and Peter Chia, maintain a bearish outlook for the Australian Dollar (AUD), highlighting 0.6440 as the next key downside level to monitor.
Near-term view: consolidation likely to continue
In their latest note, UOB analysts observed that AUD/USD traded within a narrower range than expected on Monday, between 0.6493 and 0.6533. “The price movements still appear to be part of a consolidation,” they commented, adding that the pair is likely to remain range-bound between 0.6495 and 0.6535 in the near term.
Medium-term outlook: bearish bias intact below 0.6575
Over the 1–3 week horizon, UOB continues to expect further declines in the AUD as long as strong resistance at 0.6575 holds. “Further declines in AUD still appear likely, and the next level to watch is 0.6440,” the analysts reiterated.
A break above 0.6575 would suggest that the downward momentum from mid-October has ended, potentially signaling the start of a corrective recovery.
