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22 Oct 2015
AUD/USD upside could be capped by 0.7280 – OCBC
FXStreet (Edinburgh) - The upside in Aussie dollar appears limited by the 0.7280 area, according to FX Strategist at OCBC Bank Emmanuel Ng.
Key Quotes
“China/growth/commodity concerns may keep the pair pressured towards its 55-day MA (0.7175) intra-day”.
“On the topside, 0.7280 should cap with comments from the RBA’s Edey late Wednesday failing to address monetary policy prospects. Expect base building behavior to persist in the absence of aggravated China concerns”.
Key Quotes
“China/growth/commodity concerns may keep the pair pressured towards its 55-day MA (0.7175) intra-day”.
“On the topside, 0.7280 should cap with comments from the RBA’s Edey late Wednesday failing to address monetary policy prospects. Expect base building behavior to persist in the absence of aggravated China concerns”.