AUD/USD: Poised to test October 2021 high at 0.7556 – OCBC

FXStreet Insights Team FXStreet

AUD/USD’s extension north of 0.75 is not surprising. Economists at OCBC believe that the aussie is set to test the October 2021 high of 0.7556.

Immediate support aligns at 0.7450

“The setup is favourably for a test of the Oct 2021 high at 0.7556. Nevertheless, the pace and extent of the up-move is stretched, and the next leg towards that target could be a grind, especially if recently established AUD-longs start to take profit at levels north of 0.75.”

“Immediate support enters at 0.7450.”

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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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