Australian Dollar: Upside capped at 0.7070 against US Dollar - UOB
UOB strategists Quek Ser Leang and Lee Sue Ann note that AUD/USD outperformed, rising to 0.7065 and closing at 0.7055 as overbought conditions build. Intraday, they see scope for a test of 0.7070 but doubt a sustained break above that level, with 0.7095 also unlikely to be threatened.