• AUD/USD: Scope for a nosedive towards 0.7000 on a break below 0.7290 - OCBC

Market news

13 August 2021

AUD/USD: Scope for a nosedive towards 0.7000 on a break below 0.7290 - OCBC

FXStreet notes that AUD/USD sold off on Canberra going into a 7-day lockdown. Economists at OCBC Bank suggest that a break below the 0.7290 mark would expose the 0.7200 level.

“The surprise lockdown in Canberra adds a near-term negative for the AUD/USD. 

“The recent range lows at 0.7290 are in focus, and any breach of that support opens the path towards 0.7200 and 0.7000 in a multi-week horizon.”

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