AUD/USD to struggle to surpass the 0.7135 resistance – Westpac

FXStreet Insights Team FXStreet

USD pullback has helped the aussie to probe 0.71. However, fragile equities and China worries argue for rallies to struggle around 0.7135 resistance, analysts at Westpac report.

AUD/USD to spend considerable time in the high 60s heading into the FOMC’s June meeting

“China’s Covid battle remains a headwind, despite Shanghai announcing wary loosening of restrictions. Fragile equities also argue for AUD/USD rallies to struggle around 0.7135 resistance.”

“We switch from down to neutral on the week but expect the aussie to spend considerable time in the high 60s heading into the FOMC’s June meeting.”

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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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