The research team at UOB Group sees the Aussie dollar extending its consolidative pattern in the near term. Key Quotes “The current positive undertone could lead to a higher AUD today but at this stage, any up-move is expected to struggle near the major 0.7150/55 resistance. The 0.7039 low seen yesterday is likely strong enough to hold any pull-back from here”. “The recent rally in AUD was short-lived and the sharp from last week’s peak of 0.7242 is likely part of a broad consolidation phase. Expected range; 0.6950/0.7240”. For more information, read our latest forex news.