Terence Wu, an FX strategist at OCBC Bank, takes a buy USD on dips posture, with the cyclicals looking most vulnerable at this stage.
Key quotes
“Expect the AUD/USD to be vulnerable as the broad USD turns supported amid risk-off tones.”
“For now, the 0.6000 may still cushion on an intra-day basis. Nevertheless, the risk-reward should favour a move below 0.6000.”
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