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3 Apr 2014
AUD/USD to remain well supported on dips - Arab Bank
FXStreet (Bali) - AUD/USD should remain well supported on intraday setbacks ahead of the US jobs number later on Friday, notes David Scutt Treasury Dealer at Arab Bank in Australia.
Key Quotes
"Another ‘nothing’ session for the AUDUSD overnight with the pair continuing to trade in a thin range between .9206-.9244. While it will remain well supported on dips today, it’s all Asian markets have done since early February, it’s likely that the Aussie will continue to range trade today as buying on the downside is offset by profit-taking before non-farm payrolls on the topside. Support is found on any dip below .9220 with resistance likely to kick in on a move above .9250."
Key Quotes
"Another ‘nothing’ session for the AUDUSD overnight with the pair continuing to trade in a thin range between .9206-.9244. While it will remain well supported on dips today, it’s all Asian markets have done since early February, it’s likely that the Aussie will continue to range trade today as buying on the downside is offset by profit-taking before non-farm payrolls on the topside. Support is found on any dip below .9220 with resistance likely to kick in on a move above .9250."