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AUD/USD could test 0.70 – OCBC

FXStreet (Edinburgh) - Emmanuel Ng, FX Strategist at OCBC Bank, sees the possibility that the pair could test the key 0.70 handle.

Key Quotes

“Unfortunately, the AUD may remain front and center amidst the risk aversion landscape with investors quickly paring upside bias in recent sessions”.

“Note that a break below 0.7035 opens the way to 0.7000 before 0.6915”.

“Note that this morning, the Caixin flash China manufacturing PMI came in at a lower than expected 47.0 (prev: 47.3)”.

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