Goldman Sachs likes buying AUD/USD on dips in the near-term.

"In the context of fiscal concerns, AUD and NOK should find support, but there's a pivot point were this feeds through to lower equities and traditional risk-off," GS notes.

"Alphabet issuance (5.5bn of AUD denominated bonds today) will perhaps prove a slight drag on AUDUSD as some proceeds are converted back into we have seen these patterns before on hyperscaler issuance, and it presents a buying opportunity - between 0.7070 and 0.7040 short term," GS adds.