The report from UOB Group, authored by Quek Ser Leang and Lee Sue Ann, suggests that AUD/USD could see a sharp decline, potentially extending to 0.6905 before stabilization occurs. The analysis indicates that while there is room for further decline, any movement is likely to be contained within a range of 0.6860 to 0.7040. The report emphasizes the importance of support levels in determining future price action.

AUD faces downward pressure

"The decline could extend to 0.6905 before stabilisation is likely."

"While there is room for AUD to decline further, any decline is likely part of a 0.6860/0.7040 range."

"AUD must now close above 0.7100 to continue rising."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)