AUD/USD Faces Upward Pressure Amid Analysts Caution
The Australian Dollar (AUD) is currently experiencing mild upward pressure against the US Dollar (USD). While the outlook suggests a potential rise, it is unlikely to breach the significant resistance level at 0.6355. Over the long term, analysts from UOB Group, such as Quek Ser Leang and Peter Chia, indicate that a slightly firm underlying tone positions AUD for trading within the higher range of 0.6245 to 0.6385. Traders should remain cautious as they navigate this market phase.