AUD/USD eyeing the 0.7900 floor – OCBC

FXStreet (Barcelona) - Analysts at OCBC Bank note that any term bounce for AUD/USD is likely to be capped at 0.7945/50 area, with the pair now eyeing the 0.7900 floor.

Key Quotes

“If price action in the CAD is anything to go by, investor interest towards the cyclicals could remain sketchy at best in the near term. With the commodity complex still very much in the doldrums, any near term bounce in the AUD-USD may be limited to the 0.7945/50 vicinity with risks still seen oriented towards the 0.7900 floor. “