AUD/USD: Downside bias soon – OCBC

The bounces in the AUD/USD are losing altitude, leaving the pair still locked in a slight downward drift, Terence Wu from OCBC Bank informs.

Key quotes

“The AUD/USD appears to be locked in a wide 0.6250 to 0.6400 range for now.” 

“We expect directionality to be stronger once either extremes are broken meaningfully.”

“Risk-reward, however, seems to favour a downside break.”