AUD/USD points southwards near term – OCBC Bank

FXStreet (Edinburgh) - In the opinion of Emmanuel Ng, FX Strategist at OCBC Bank, the negative bias could prevail in AUD/USD in the near term.

Key Quotes

“Expect the pair to remain under downward pressure in the current environment with 0.8900 now serving as a resistance instead”.

“Prospects for the pair in the near term may remain somewhat dire, with either discretionary USD strength and/or China/global growth concerns posing as downside risks”.

“Next visible support is expected towards 0.8820 if 0.8900 is not re-taken”.