AUD/USD points to range bound near term – OCBC

FXStreet (Edinburgh) - Emmanuel Ng, FX Strategist at OCBC Bank, sees the pair in a consolidative pattern in the short term.

Key Quotes

“Expect the tide of global macro/risk sentiment to potentially sway the AUD this week with range trading expected to prevail in the interim”.

“On the CFTC front, note a jump in net leveraged AUD shorts in the latest week. In the near term, the lower boundary for the pair is expected into 0.6895 with 0.7120 likely to limit for now”.