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Sell any strength in AUD/USD - ANZ

FXStreet (Bali) - The recent selloff in the AUD has brought it closer to fundamental fair value, notes Daniel Been, FX Strategist at ANZ.

Key Quotes

"Looking forward, the distribution of risks continues to point to further downside for the fundamental drivers of the AUD. Use any retracement towards USD0.90 as an opportunity to sell."

"As a baseline, the current levels of both commodity prices and interest rate differentials continue to suggest that the AUD should fall further, and ANZ Research’s forecasts of these factors also suggest that the risks are to the downside."

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