Westpac: forecasts for AUD
Westpac analysts believe that AUD is trying to base, so there will be soon some recovery.
“We could see a bounce in the weeks ahead. We could envisage a bounce back towards $0.9800. This could see AUD crosses including AUD/EUR back towards 0.7400 and AUD/JPY back towards 96.00. However, with tapering set to start later in the year and commodities still looking weak, it’s hard to envisage a move beyond those levels.”