AUD/USD traded briefly above 0.7075 before retreating to almost unchanged at 0.7063, according to UOB analysts Quek Ser Leang and Lee Sue Ann.
They expect an intraday range of 0.7050-0.7085 but maintain an upside bias over 1-3 weeks as long as the pair holds above 0.7025.
The analysts pointed out that should AUD close above 0.7075, it could continue to rise toward 0.7100.
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