With the various stress points (Sino-US tensions, rising virus incidence) not alleviating and the aussie nearer top end of the range, Terence Wu from OCBC Bank will not chase AUD/USD higher for now. The bias remains for the pair to revert to a range-bound posture for now while below 0.7060 and with 0.69 holding the downside. Key quotes “Four consecutive sessions of gains have seen the AUD/USD move near the top end of its recent ranges. Remain skeptical on a range break at this stage, especially with the usual suspects of risk-off still lurking in the horizon.” “The aussie may need to extend north of 0.7060 to revert to a clear uptrend. For now, still expect the pair to stay range bound, with 0.6900 as the first support on the downside.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR/JPY to dip lower by end-2020 – Rabobank FX Street 3 years With the various stress points (Sino-US tensions, rising virus incidence) not alleviating and the aussie nearer top end of the range, Terence Wu from OCBC Bank will not chase AUD/USD higher for now. The bias remains for the pair to revert to a range-bound posture for now while below 0.7060 and with 0.69 holding the downside. Key quotes “Four consecutive sessions of gains have seen the AUD/USD move near the top end of its recent ranges. Remain skeptical on a range break at this stage, especially with the usual suspects of risk-off still lurking in the horizon.” “The aussie may need… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
