AUD/USD could revisit the year's high of 0.6625 - UOB Group

The current price movements are likely part of a consolidation range between 0.6560 and 0.6605. In the long term, the rapid improvement in bullish momentum indicates that the AUD could revisit the year’s high of 0.6625, according to currency analysts Quek Ser Leang and Peter Chia from UOB Group.

Rapid Bullish Momentum Improvement

24-HOUR VIEW: “The AUD surged sharply to a high of 0.6598 on Monday. Yesterday, Tuesday, when the AUD was at 0.6590, we indicated that ‘although the strong momentum suggests the AUD could continue to rise, with negative divergence forming, any advance is unlikely to reach the significant resistance level of 0.6625.’ Subsequently, the AUD rose to a high of 0.6619 before easing to close slightly lower at 0.6586 (-0.09%). Momentum indicators are turning neutral, and the current price movements are probably part of a consolidation range, which is expected to be between 0.6560 and 0.6605.”

1-3 WEEK VIEW: “Two days ago (Sep 8, the quote was at 0.6550), and we indicated that ‘there is a possibility that the AUD could rise towards 0.6595, but it is unlikely to break clearly above this level.’ After the AUD rose to a high of 0.6598, we highlighted yesterday (Sep 9, with the quote at 0.6590), that ‘the rapid improvement in bullish momentum indicates that the AUD could revisit the year’s high of 0.6625.’ Subsequently, the AUD rose to 0.6619 before easing. We are maintaining the same view for now, as long as the ‘strong support’ at 0.6540 (remains unbroken).”

Disclaimer: For informational purposes only. Past performance is not indicative of future results.

Recommended Articles

[What to Expect from Ethereum in October 2025] With overall sentiment worsening, declining user demand on the Ethereum network, and institutional investors pulling back, the currency faces increasing challenges in October.

[Japanese Yen Weakens as LDP-JIP Coalition Revives Fiscal Concerns] The Japanese Yen (JPY) begins the new week on a weaker note following reports that the ruling Liberal Democratic Party (LDP) and the Japan Innovation Party (JIP) have agreed to form a coalition government.

[Silver Price Forecast: XAG/USD Stabilizes Above $52 After a Healthy Correction] The silver price (XAG/USD) is up 0.7%, trading near $52.30 during late Asian session on Monday.

[Solana Price Forecast: SOL Extends Recovery as Trading Volume Increases] The Solana (SOL) price extends its recovery, trading above $192 at the time of writing on Monday, after rebounding from the support of the upward trendline last week.

[Why Altcoin Market Capitalization Drop Could Widen in October] The crypto market has been turbulent in October, with altcoin market capitalization falling another 15%. Could this decline worsen before October ends?