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AUD/USD potential decline towards 0.8600 – OCBC Bank

FXStreet (Edinburgh) - Softer than expected docket in Oz today in combination with USD strength could push the pair to the 0.8600 key support, suggested Emmanuel Ng, FX Strategist at OCBC Bank.

Key Quotes

“This morning, the AiG performance of manufacturing index softened to 46.5 for September from 47.3 the previous month and this data point will do no favors for the AUD in the current environment”.

“Additionally, markets jumped on the disappointing August retail sales numbers (+0.1% mom) and pulled the pair below 0.8700”.

“Expect interim supports towards 0.8660 before 0.8600”.

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