Back
4 Jun 2015
AUD/USD may continue to fade advances towards 0.78 – OCBC
FXStreet (Barcelona) - Emmanuel Ng, FX Strategist at OCBC Bank, expects AUD/USD to remain in the 0.7798/0.7700 range in the near-term.
Key Quotes
“While the better than expected aussie 1Q GDP numbers underpinned the AUD on Wednesday, disappointing April retail sales numbers (0.0% mom) this morning tripped the pair down past 0.7750. In the near term, the pair may continue to fade any advances towards its 55-day MA(0.7798) with 0.7700 serving as an immediate floor.”
Key Quotes
“While the better than expected aussie 1Q GDP numbers underpinned the AUD on Wednesday, disappointing April retail sales numbers (0.0% mom) this morning tripped the pair down past 0.7750. In the near term, the pair may continue to fade any advances towards its 55-day MA(0.7798) with 0.7700 serving as an immediate floor.”