AUD: An opportunity to buy on dip - ANZ

In its latest report on the Australian dollar, analysts at ANZ highlighted 5 key reasons to the Aussie on every dip.

Key Points:

1. USD is due for a correction
2. Risk sentiment remains supportive
3. RBA still on track to hike in 2018
4. Outlook for iron ore remains positive
5. Technicals bode well: While the AUD lacks a clear bullish bias against the USD, the price action suggests the AUD is well supported above0.78.

“Given these five indicators, we think that any downside surprise in domestic data should be used as an opportunity to buy the AUD on dip.”