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Sean Callow, Research Analyst at Westpac, suggests that they are sticking with the their bullish view on the AUD/USD pair for the week ahead, even though commodities have eased back a little.

Key Quotes

“Broad USD sentiment has faltered, DXY failing again at 97. The medium and long term dollar outlook remains robust however.”

“With USD on the back foot, risk appetite firming and specs still short AUD, we look for a run towards 0.7350 near term, perhaps a little higher. Local data should back this move and if wages surprise to the upside, AUD/USD could approach 0.7400.”