Citibank analysts forecast AUD / USD in 0.73 in a period of 0 to 3 months and in 0.74 in a horizon of 6 to 12 months. They note that fundamental supports for the USD have eroded since the start of the COVID crisis and are unlikely to reverse in the medium term.
Key statements
“The continued strong economic recovery in China is a positive sign for closely linked Australia. Furthermore, the RBA remains in standby and forecast mode and negative rates are practically ruled out. We don’t see a big negative for the currency here. ”
“AUD / USD appears to be forming a clear double bottom within a triangle (the top of the triangle has already been broken) with a neckline at 0.7243 and a target close to 0.7500.”
.
Credits: Forex Street
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
