AUD/USD: Remains Cautious & Looking For A Sustainable Break 0.70 This Quarter

By ANZ via eFXNews

ANZ Research discusses AUD/USD outlook and maintains a cautious bias, expecting a sustainable break below the 0.70 level in Q1.

“In recent months the AUD has been a victim of global sentiment, with much of its range defined by market volatility rather than domestic dynamics. 

There is a risk, we think, that over the next couple of weeks the market will refocus on the domestic pulse. Key data releases will arrive ahead of a substantial update from the RBA, all of which will add a new element to the downside bias of the AUD,” ANZ notes. 

We remain cautious. We still like the long-dated bearish option structures we recommended late in 2018, and we retain our forecast that the AUD will sustainably break USD0.70 this quarter,” ANZ argues. 

Share Article

Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp
Share on email

In This Article

-Advertisement
eFXplus
Institutional derived FX data from Model Portfolios, Quant Models and Forecasts All in one platform
eFXplus provides price-based FX data derived from Sell-Side Research.