AUD/USD to edge lower towards 0.71 amid Omicron covid concerns – OCBC

AUD/USD fell sharply on Friday. Although the pair stages a rebound on Monday, the aussie remains sensitive to changes in sentiment, economists at OCBC Bank report.

Any further bounce to be capped at 0.7200

“The AUD/USD bias may still be towards the 0.7100 support, especially if the Omicron concerns /risk-off sentiment persists for the next few days.”

“Any further bounce should be capped at 0.7200 for now.”