UOB Warns AUD/USD Risks Break Below 0.7120 Support

On June 5, UOB reported AUD/USD holding just above 0.7120 support with downside risks to 0.7095 if that level breaks, citing a stronger USD and China concerns. The latest view follows June 4 assessments from Rabobank, BNY and UOB that highlighted RBA policy nearing its peak, sticky Australian inflation and resilient commodity prices. Earlier analysis placed the pair in a 0.6550-0.6700 range with limited downside expected. Markets continue to price only modest odds of an RBA cut before late 2025 or 2026.