AUD/USD may move near 0.8200 support – OCBC

FXStreet (Barcelona) - The OCBC Bank Research Team notes that the expectations for rate hike by Fed and RBA will keep the downward path for AUD/USD smooth, with probability of moving towards the 0.8200 support.

Key Quotes

“Fed rate hike expectations contrasted with RBA rate cut expectations suggest that the path of least resistance may remain oriented southwards at this juncture. On other fronts, if the stumble in the commodity complex becomes protracted, expect the RBA to increasingly harp on the fact that the AUD remains out of sync with the negative terms of trade shock. In the interim, the 0.8200 support may continue to attract. “