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AUD/USD tough resistance awaits at 0.7280/0.7300 – OCBC

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 8, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Edinburgh) - Emmanuel Ng, FX Strategist at OCBC Bank sees the pair facing strong resistance in the 0.7280/0.7300 band.

    Key Quotes

    “We turn tactically bullish on the pair given a more appetizing risk appetite backdrop with the USD still seen on the defensive”.

    “The AUDUSD is now sitting atop its 55-day MA (0.7180) with the next resistance of significance expected towards 0.7280 before 0.7300”.
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