AUD/USD: Returning to a positive stance – OCBC

Terence Wu, an FX strategist at OCBC Bank, expects choppy action in the AUD, but overall it still looks supported on the downside as investors seem happy to look past risk-off episodes quickly.

Key quotes

“A breach of 0.6450 may see further extensions towards 0.6500 for now.” 

“Expect 0.6400 to enter as a base for now.” 

“With risk sentiment supported again, we return to a AUD-positive stance for now.”