The Australian Dollar (AUD) is facing potential downward pressure against the US Dollar (USD), with analysts from UOB Group indicating that the major support level at 0.6460 appears to be currently unattainable. The currency pair has been trading with a bearish sentiment, suggesting that the AUD may struggle to maintain its value against the USD in the short term.
In their analysis, UOB's FX experts Quek Ser Leang and Peter Chia emphasize that while an immediate drop to the 0.6460 support level seems unlikely, the overall outlook for the AUD remains negative. Traders should closely monitor the exchange rate movements, as continued weakness in the AUD could lead to increased volatility in the forex market, impacting broader trading strategies involving other major currencies such as the EUR.
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Data Source: FX Killer Analysis Team Updated: 2025-11-18 10:46
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.