As long as 0.6540 is not breached, the Australian Dollar (AUD) could break the major support at 0.6480. It is unclear whether it can maintain a foothold below this level, ant it is uncertain if 0.6425 will come into view, UOB Group FX analysts Quek Ser Leang and Lee Sue Ann note.
Below 0.6480 the next level to watch is 0.6425
24-HOUR VIEW: “AUD closed at 0.6539 (-0.16%) in NY but in early Asian trade today, it plunged. The sharp decline appears to be a tad overdone. However, as long as 0.6540 is not breached, AUD could break below the major support at 0.6480. At this time, it is unclear whether it can maintain a foothold below this level (next support is at 0.6450).”
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