AUD/USD to move down to the 0.70 level on a break below 0.7167 – OCBC
|The AUD/USD pair is trading below the 0.7220 support level. Analysts at OCBC Bank expect the aussie to grind lower towards the 0.7000 level on a break below 0.7167.
Biased on the downside
“AUD/USD is within a weekly support zone between 0.7167 and 0.7214. Any break from this range into the weekend could signal further downside next week, with a multi-week target towards 0.7000.”
“Biased on the downside, especially with global risk cues leaning risk-off.”
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