Morgan Stanley might rethink its AUD/USD strategy if the pair dips below 1.0170, as the bank says a move below that level would turn the outlook negative and open the way for a "far more significant" decline. "While we have maintained a cautious, positive strategy of buying at 1.0170, a sustained move below this level would call this strategy into question and we would consider switching to a bearish strategy," Morgan Stanley says. It adds data weakness from the country has already spurred the bank to recommend a number of bearish positions on AUD on the crosses. AUD/USD trades at 1.0222.(
eva.szalay@dowjones.com)