AUD/USD: Consolidation mood – OCBC

The Aussie may enter a near-term rangebound, consolidation mood in the coming sessions, with the AUD/USD pair corridor between 0.6000 and 0.6200, in the opinion of Terence Wu from OCBC Bank.

Key quotes

“Short-term implied valuations extended higher even as the spot AUD/USD stalled below the 0.6200 level.” 

“Near-term consolidation mode for now, though short-term implied valuations point towards further upside.” 

“Prefer a wait-and-see attitude for now, with the pair still book-ended by 0.6000 and 0.6200.”