The AUD/USD pair lacks any firm directional bias on Wednesday and remained confined in a range around the 0.7200 mark. Terence Wu, FX Strategist at OCBC Bank, expects the aussie to remain between 0.7140-0.7220 range.
Key quotes
“The AUD/USD remains capped below the 0.7200/20 area even as risk sentiment ticked higher. Topside momentum looking increasingly exhausted.”
“Do not rule out the pair (together with NZD/USD) leading the way lower if risk and the recovery theme sours.”
“For now, expect the range between 0.7140 and 0.7220 to hold.”
Reprinted from fxstreet, the copyrights all reserved by the original author.
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