AUD/USD: medium-term target at 0.72 – Lloyds Bank

FXStreet (Barcelona) - FX Strategists at Lloyds Bank, remain AUD/USD bears, targeting 0.7200 levels.

Key Quotes

“Commodity currencies remain under pressure. With retail sales in Australia this morning coming out weaker than expected and a new slump in iron ore prices, the AUDUSD has come under renewed selling pressure, pushing through recent range lows at .7600/.7590 and now eyes up the .7530 lows set back in April. We still target a move down towards .7200 in the medium term, with .7700/.7750 key short term resistance.”