AUD/USD: Some consildation slightly above 0.57 – OCBC

AUD/USD bounce’s on Friday did not breach 0.6000, effectively keeping the downside momentum intact, according to analysts at OCBC Bank.

Key quotes

“Expect some consolidation between the 0.5700 and 0.5760 for now.”

“If the 0.5700 floor is breached intraday, expect the pair to drift further south towards the 0.5500 low.”