AUDUSD: Ready for Upward Trends Toward 0.6550?
The Australian Dollar (AUD) is poised to consolidate within a range between 0.6455 and 0.6510 against the US Dollar (USD). Excitingly, the rapid increase in momentum suggests the AUD could likely trade with an upward bias toward the psychological level of 0.6550. Analysts from UOB Group indicate that bullish trends may emerge as market conditions improve. Traders should manage their positions accordingly, especially as market movements may present considerable opportunities in an upward trend.