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21 Oct 2013
Flash: AUD/USD may remain underpinned - OCBC
FXstreet.com (Athens) – Emmanuel Ng of OCBC Bank suggests that 3Q inflation numbers are due on Wednesday and the AUD/USD may remain underpinned despite dovish AUD remarks (a lower AUD would aid in rebalancing) from the RBA’s Stevens last Friday.
Key Quotes
“Stevens however acknowledged that the expectations of a Fed taper delay and supportive data out of China had underpinned the aussie of late. Pending further cues 9we are still positive on the pair), look for support on approach of the 0.9600 level with resistance seen on upticks towards 0.9700 and then 0.9720.”
Key Quotes
“Stevens however acknowledged that the expectations of a Fed taper delay and supportive data out of China had underpinned the aussie of late. Pending further cues 9we are still positive on the pair), look for support on approach of the 0.9600 level with resistance seen on upticks towards 0.9700 and then 0.9720.”