Bank of America Merrill Lynch Global Research discusses AUD medium-term outlook through 2020. BofAML targets AUD/USD at 0.70 in Q1 and 0.73 in Q4 of 2020. 

"Assuming a meaningful trade deal between the US and China, we expect AUD to recover through 2020. We have revised up our end-2019 forecast slightly to 0.69 (previously 0.67) to reflect the rising probability of tariff rollback. We expect a further gradual uptrend in AUD/USD in 2020 as trade issues dissipate and the Australian economy recovers. We continue to forecast AUD/USD to end 2020 at 0.73," BofAML adds.