AUD/USD: Rally higher to run out of steam ahead of the 0.7550/60 zone – OCBC

The AUD/USD pair was last seen hovering just below the key 0.7500 psychological mark. Economists at OCBC Bank expect the aussie to fail to surpass the 0.7550/60 resistance zone.

AUD/USD may turn heavy

“Traction above 0.7500 seems to be limited for the AUD/USD, with firm resistance out at the 0.7550/60 zone.”

“Support at 0.7440/50 needs to be overcome for the pair to re-engage downside.”

“Potential for the pair to turn heavy should the hawkish central banks spur another round of risk-off.”