AUD/USD: Dips towards 0.7270 a buying opportunity – OCBC

AUD/USD is about to lose the 0.73 level, the intraday low, amid mixed data and sustained US dollar strength. Terence Wu, FX strategist at OCBC Bank, is ready to buy on dips towards 0.7270 targeting the 0.7414 recent high.

Key quotes

“Look for support at 0.7270/00, with a breach potentially signaling a deeper retracement.”

“Global and USD-driven cues continue to dominate, with the aussie not reacting to soft trade prints down.”

“Prefer to buy on any dips towards 0.7270, targeting the recent high at 0.7414.”