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AUD/USD points to consolidation between 0.69-0.71 – OCBC

FXStreet (Edinburgh) - The Aussie dollar could be poised for further consolidation vs. the greenback between 0.69 and 0.71, suggested Emmanuel Ng, FX Strategist at OCBC Bank.

Key Quotes

“The Sep AiG performance of manufacturing index improved slightly to 52.1 from 51.7 the previous month and the supportive China PMIs this morning should keep the AUD-USD slightly buoyant intra-day”.

“We however still expect range bound behavior within the confines of 0.6900- 0.7100”.

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