AUD/USD could sink as far as 0.6760 – Westpac

FXStreet Insights Team FXStreet

AUD/USD prints lows since June 2020 below 0.69. Economists at Westpac think that the pair could slide as far as 0.6760.

Australia’s commodity price basket to propel the aussie back to the mid-0.70s in coming months

“Firm USD backed by Fed hawkishness and the not coincidental very sour sentiment in equity markets suggest scope for further AUD decline.”

“Look for a probe of support at 0.6805/33, potentially as far as 0.6760 multi-day/week, a clear buying opportunity.”

“Australia’s commodity price basket should underpin AUD in coming months, back to the mid-0.70s.”

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FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

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