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AUD/USD door open for a test of 0.7020 – OCBC

FXStreet (Edinburgh) - According to FX Strategist at OCBC Bank Emmanuel Ng, the pair risks the chances of a visit to the 0.7020 area.

Key Quotes

RBA meeting minutes are due on Tuesday but the external operating environment for the AUD we think remains less than constructive”.

“A continued failure to successfully challenge 0.7170 may threaten a breach of 0.7100 towards 0.7020. Note that on the CFTC front, net leveraged AUD shorts were also increased in the latest week”.

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