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Thomson Reuters
Jan 30 - 01:24 AM
AUD/USD: Remains Cautious & Looking For A Sustainable Break 0.70 This Quarter - ANZ
First appeared on eFXplus on Jan 29 - 12:15 PM

ANZ Research discusses AUD/USD outlook and maintains a cautious bias, expecting a sustainable break below the 0.70 level in Q1.

"In recent months the AUD has been a victim of global sentiment, with much of its range defined by market volatility rather than domestic dynamics. 

There is a risk, we think, that over the next couple of weeks the market will refocus on the domestic pulse. Key data releases will arrive ahead of a substantial update from the RBA, all of which will add a new element to the downside bias of the AUD," ANZ notes. 

"We remain cautious. We still like the long-dated bearish option structures we recommended late in 2018, and we retain our forecast that the AUD will sustainably break USD0.70 this quarter," ANZ argues. 

Source:
ANZ Research/Market Commentary

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