Back
21 May 2015
ADU/USD sell on rallies towards 0.8000/20 – Westpac
FXStreet (Edinburgh) - Strategist at Westpac Sean Callow sees bullish attempts in the pair as selling opportunities.
Key Quotes
“Our suspicion last week that the AUD/USD rally was on borrowed time looks to have been validated rather swiftly”.
“At time of writing the Aussie is 2.5 cents below the 14 May high and it is hard to see the fuel for anything more than a flicker above 0.8000”.
“Key commodity prices are looking fragile once more while spec positioning is a lot more balanced and talk of the RBA easing cycle being complete has abated”.
“A lukewarm USD should limit downside, perhaps to around 0.7700 on the week, but with the overall bias being to sell rallies. Any probes of 0.8000/20 should inspire solid selling”.
Key Quotes
“Our suspicion last week that the AUD/USD rally was on borrowed time looks to have been validated rather swiftly”.
“At time of writing the Aussie is 2.5 cents below the 14 May high and it is hard to see the fuel for anything more than a flicker above 0.8000”.
“Key commodity prices are looking fragile once more while spec positioning is a lot more balanced and talk of the RBA easing cycle being complete has abated”.
“A lukewarm USD should limit downside, perhaps to around 0.7700 on the week, but with the overall bias being to sell rallies. Any probes of 0.8000/20 should inspire solid selling”.