5 Mar 2015
AUD/USD sellers to return around 0.7875/0.7900 - Westpac
FXStreet (Barcelona) - Sean Callow of Westpac, shares the outlook for AUD/USD for the week ahead, expecting the pair to remain supported at 0.7725 levels.
Key Quotes
“Since the knee-jerk low after the 3 Feb rate cut, AUD/ USD has traded an increasingly comfortable-looking 0.7644- 0.7913 range, with most trade less than a cent either side of the 0.7796 average over the month. We suspect this neutral trend persists for another week.”
“Commodity prices have been mostly range-bound in recent weeks while pricing for the RBA’s Apr meeting is likely to hover near 50/50 even with Feb jobs data looming.”
“Multi-week bias remains lower but not dramatically.”
“On the week look for support around 0.7725, sellers to return in the 0.7875/0.7900 area.”
Key Quotes
“Since the knee-jerk low after the 3 Feb rate cut, AUD/ USD has traded an increasingly comfortable-looking 0.7644- 0.7913 range, with most trade less than a cent either side of the 0.7796 average over the month. We suspect this neutral trend persists for another week.”
“Commodity prices have been mostly range-bound in recent weeks while pricing for the RBA’s Apr meeting is likely to hover near 50/50 even with Feb jobs data looming.”
“Multi-week bias remains lower but not dramatically.”
“On the week look for support around 0.7725, sellers to return in the 0.7875/0.7900 area.”