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AUD/USD: Range-bound s/t, further downside m/t - ANZ

FXStreet (Bali) - ANZ is betting for AUD/USD range-bound to continue near term, although mid term they believe the USD will outperform.

Key Quotes

"With the AUD/USD trading closer to fair value and near its 2014 lows, further downside requires a shift in one of its fundamental drivers to provide the impetus for a move."

"Currently the signals that we are receiving are somewhat mixed. Domestic dynamics are neutral, while those in China are becoming more positive. In the near-term, a sparse US data calendar means that the USD (the likely catalyst of the downside break in the AUD) is going to be range-bound. However, looking further out we continue to think that the USD will outperform."

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