Australian Dollar: Consolidation limits gains against US Dollar – UOB

United Overseas Bank strategists (UOB) Quek Ser Leang and Lee Sue Ann observe that AUD/USD has entered a short-term consolidation after recent gains, with intraday trade expected between 0.6995 and 0.7030. Over 1–3 weeks they remain constructive but note slowing upward momentum and risk that a break below 0.6985 would put the 0.7070 target out of reach, while longer-term EMAs still warn of downside toward prior lows.