FXStreet (Delhi) – Research Team at ANZ, notes that after failing to capitalise on the better data and small window of market calm, the AUD fell to fresh cycle lows after oil prices weakened further and stocks fell sharply. Key Quotes “Sentiment, rather than fundamentals, remains in control of markets and this keeps downside risks open. This week, Chinese economic data remains the key. Expected range: 0.6751 – 0.7017 AUD/NZD: Awash on global sentiment The NZD held up well despite global market volatility dragging down a number of high beta currencies; this took the cross back towards 2016 lows. AUD/NZD remains range-bound as global factors remain the focus. Expected range: 1.0582 – 1.0730 AUD/EUR: EUR safe haven EUR outperformed to finish the week with safe haven flows dominating. CFTC short futures positioning was also cut. Expect the pair to be biased downwards. Expected range: 0.6184 – 0.6401 AUD/JPY: Market now net-long JPY The market extended net long JPY positions to the highest level since 2012 for the week ended 12 January. Expect risk-off to keep this cross moving lower. Expected range: 78.97 – 81.83” For more information, read our latest forex news.