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What is the forecast for AUD in the near-term?

Here is their view, courtesy of eFXdata:

Citi discusses AUD outlook and adopts a buy-on-dips bias in the near-term.

AUD is likely to remain supported by: 1-  Localized reflation illustrated by strong retail sales/consumer confidence/business confidence data recently;  2-  Commodity tailwinds as outlined by our commodity strategists;  3-  Broader USD weakness, which should also catalyse this view,” Citi notes.

CitiFX Strategy remains biased to add AUD longs on dips,” Citi adds.

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