AUD rose briefly above 0.65 handle last week but broad USD strength post-hawkish FOMC outcome reversed Ausse’s gains. Economists at OCBC Bank analyze
AUD/USD may remain under pressure as US rates staying higher for longer poses risks to global growth, undermine sentiments and support the USD. These will be the key drivers for now until US economic data starts to show signs of softening.
Next key support at 0.6370 levels . If we do get a clean break, then bearish pressure can gather traction. Next support at 0.6190, 0.61 levels . However, if AUD manages to reclaim 0.6460 , then we could still see a bounce towards 0.65 levels , 0.6570.Information on these pages contains forward-looking statements that involve risks and uncertainties.
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