AUD/USD appears underpinned near term – OCBC Bank

FXStreet (Edinburgh) - In the opinion of Emmanuel Ng, FX Strategist at OCBC Bank, spot remains well supported amidst dollar weakness and fading expectations of a Fed’s lift off.

Key Quotes

“Calmer global market conditions and prevailing skepticism towards a Fed lift-off this week may continue to underpin the AUD-USD in the near term, with the RBA meeting minutes expected to provide a domestic focus on Tuesday”.

“On the CFTC front, additional support from the pair may also emanate from the paring of net leveraged AUD shorts in the latest week”.

“At this juncture, risks may favor a probe towards 0.7200 as opposed to 0.7000”.