AUD/USD: Risk-reward should favour a move below 0.6000 – OCBC

Terence Wu, an FX strategist at OCBC Bank, takes a buy USD on dips posture, with the cyclicals looking most vulnerable at this stage.  

Key quotes

“Expect the AUD/USD to be vulnerable as the broad USD turns supported amid risk-off tones.”

“For now, the 0.6000 may still cushion on an intra-day basis. Nevertheless, the risk-reward should favour a move below 0.6000.”