AUD/USD: Positive in the near-term – OCBC

Terence Wu, an FX strategist at OCBC Bank, sees some room for the different majors to diverge in the immediate horizon, pending shifts in risk appetite. In particular, he is positive on the AUD/USD in the near-term. 

Key quotes

“Investors appear happy to impute AUD/USD upside on every positive headline at this stage, with vaccine developments being the latest in early Friday.”

“With the two-day dip not testing the 0.6200 level, we retain a bias for this pair to ease higher for now. Interim target at 0.6400, with support at 0.6300/20.”