AUD: Bullish focus mostly on crosses – Westpac

According to Sean Callow, Research Analyst at Westpac, their bullish AUD focus remains mostly on crosses.

Key Quotes

“These include NZD, where the iron ore vs dairy contrast leaves key resistance at AUD/NZD 1.0760 firmly in sight and EUR, where French politics should keep chipping away at any euro rallies and of course the ECB’s QE program is mapped out through yearend. AUD/JPY should have another crack at 88 in coming sessions.”

“AUD/USD meanwhile hasn’t quite completed the round trip from 0.7775 on US election day to 0.7160 late Dec. The final half cent is proving hard work, with the Fed hammering its message that March is a “live” meeting. We retain a neutral bias on the week.”