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- AUD/USD set to tick down towards 0.7200 level - OCBC
AUD/USD set to tick down towards 0.7200 level - OCBC
FXStreet reports that Terence Wu, FX Strategist at OCBC bank, expects the aussie to edge lower to test the 0.7200 level.
“The AUD/USD will be a barometer of Evergrande risks in the near term. Positives have taken it higher, but note that the 0.7300/20 key resistance zone has not been breached, implying that the downside bias is not fully averted.”
“Evergrande aside, the underlying risk-off bias is perhaps more sustained. Prefer to stay the course, looking for downside tests of 0.7200.”
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