AUD/USD: fade rallies towards 0.7050/0.7100 – Westpac

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 14, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - Strategist at Westpac Robert Rennie suggested selling the upticks in the Aussie dollar around the 0.7050/0.7100 area.

    Key Quotes

    “While there will be no shortage of data sceptics, a robust labour market and a solid pipeline of potential M&A related demand are factors we think will make AUD sticky as we approach the Aug/Sep lows”.

    “However, with iron ore below $40, crude hovering round $30 and weak China data there will be willing sellers up towards 0.7050/ 0.7100leaving us in a sticky range for the foreseable future”.
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