NAB discusses AUD/USD technical outlook and maintains a low-conviction bias around current levels.
"The recent decline has returned momentum bias to a more neutral state when assessed across multiple time frames," NAB notes.
"MT support and resistance levels are of equal magnitude in our opinion. We anticipate AUD/USD holding an approximate 0.67 to 0.69 range in the coming weeks. Until this range is broken we maintain a low conviction regarding MT directional bias," NAB adds.