The AUD/USD is expected to see further strength in the near term, with 0.6689/6706 then expected to cap, in the opinion of analysts at Credit Suisse.
Key quotes
“We keep our short-term bias to the upside whilst continuing to watch closely for a reversal as the daily RSI is now approaching overbought territory and risk assets are still expected to turn back lower.”
“Resistance is next seen at 0.6613. Removal of here would turn the spotlight back to the 200-day average and 78.6% retracement at 0.6689/6706, where we would expect to see a cap if reached.”
“Support is initially seen at 0.6487/82, then 0.6434/27, before 0.6337.”
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