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Forex

AUD/USD Selloff Targets Strong Support at 0.7120

Guavy AI Editorial Team
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USD AUD
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United Overseas Bank (UOB) strategists Quek Ser Leang and Lee Sue Ann are warning of further losses for the Australian Dollar against the US Dollar. They point to a sudden AUD/USD selloff that reached as low as 0.7156, with intraday momentum indicating potential further declines towards 0.7140.

The strategists note that 0.7120 is currently strong support for the pair, but they believe it could decline toward this level unless it rebounds above 0.7210 over the next one to three weeks.

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