Economists at ING analyze AUD/USD outlook.

Eyeing new lows

We believe there is still room for another drop in AUD/USD. The new bottom may be 0.61/0.62.

The external environment remains very detrimental for the pair, which should stay under pressure unless the US data narrative flips, and that should not happen in the near term. 

Improvements in Chinese sentiment are – if anything at all – very gradual.

AUD/USD – 1M 0.62 3M 0.66 6M 0.69 12M 0.72

See – AUD/USD: Limited upside potential in the coming months – Rabobank