AUD/USD: analysts' forecasts
AUD/USD retraced 50% of its decline from April to August reaching $0.9700, and then corrected to the levels below $0.9500. Will the pair manage to resume advance? Here’s what the analysts think.
Bank of America Merrill Lynch: “We expect the carry supportive environment to continue until mid-December and AUD/USD to approach the high $0.90s. Then we are thinking of selling the attempts of Aussie to rise above parity, around $1.0050.
Wesptac: We are likely to see further consolidation in the $0.9400/0.9700 range in the coming weeks ahead of a break higher to $0.9920.
Citi: AUD/USD may have some modest further room to rally, but risk-return in adopting short positions should be more attractive on any further rise.