Neutral outlook on AUD/USD from UOB.

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UOB analysts remain neutral on AUD/USD.  “AUD dipped below 0.7200 yesterday but rebounded quickly from a low of 0.7175. The bias is tilted to the downside but as mentioned yesterday, a sustained down-move is likely only upon a clear break below 0.7200 (say a daily closing below this level). In the meanwhile, this pair is expected be on the defensive unless it can reclaim 0.7300” written in the report from UOB.

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