AUD/USD fade rallies towards 0.7151 – OCBC

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 30, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - Emmanuel Ng, FX Strategist at OCBC Bank, has recommended selling the Aussie dollar on tests of the 0.7150 area vs. the greenback.

    Key Quotes

    “We note that a not insignificant portion of the market is still angling for a RBA rate cut in early 2016”.

    “Overall, we would continue to favor fading upside tests towards the 55- day MA (0.7151) with downside at 0.7040/50 a viable proposition”.
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