FXStreet reports that in the opinion of FX Strategists at UOB Group, AUD/USD is now forecast to trade within 0.7320 and 0.7450 in the next weeks.

24-hour view: “The current movement is viewed as part of an on-going consolidation and AUD is expected to trade within a 0.7340/0.7385 range.”

Next 1-3 weeks: “Our update from last Friday (23 Jul, spot at 0.7385 still stands). As highlighted, the recent downward pressure has dissipated and AUD could trade between 0.7320 and 0.7450 for period of time.”