AUD/USD points to range bound near-term – OCBC Bank

FXStreet (Edinburgh) - According to Emmanuel Ng, FX Strategist at OCBC Bank, the Aussie dollar could be poised for further consolidation vs. the greenback in the near term.

Key Quotes

“Further range trading could be in store with soft commodities limiting upside towards 0.7450 while 0.7300 may cushion in the near term pending further external cues”.

“With the drag from EM/commodity space, rate differentials meanwhile have continue to put a lid on the pair”.