The Australian Dollar (AUD) is set to advance towards 0.6825, UOB Group FX analysts Quek Ser Leang and Lee Sue Ann note.

AUD to move towards 0.6825

24-HOUR VIEW: “Although AUD rose sharply on Monday, we indicated yesterday (Tuesday) that ‘upward momentum has not increased much.’ However, we were of the view that it ‘could continue to rise, but any advance is likely part of a higher range of 0.6725/0.6765.’ AUD then traded in a 0.6742/0.6769 range, closing largely unchanged at 0.6756 ( 0.06%). Further range trading still seems likely today, expected to be in a range of 0.6725/0.6775