The AUD/USD has been one of the worst performers since the ECB and FOMC of last week. Broad-based selling has seen the Aussie fall all the way to 0.7350.
Now Westpac - a major Australian Bank - has come out with their predictions for the Aussie.
They are suggesting the sell-off has been a little overdone and the outlook isn’t as bad as many have first thought.
They believe the RBA will be bullish on growth in their next meeting. While commodity prices are also holding up well, which is one of the major driving forces of the Australian economy.
They are predicting a move to 0.7500 by September. That's in keeping with the downward channel.