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AUD/USD watch 0.7115 risk to downside - UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 5, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Guatemala) - Analysts at UOB Group noted that the RBA's Governor Stevens told an audience yesterday that the next monetary policy move is more likely to be a cut than a hike.

    Key Quotes:

    "Reiterating his message from Tuesday when the central bank left the cash rate on hold at a record-low of 2.0%. AUD continued to ease on Thursday following a strong run over the last few sessions."

    "The spot traded lower overnight in line with the dollar strength and risk off sentiment."

    "We are still long at 0.7185, looking for 0.7260/90. Only a move below 0.7115 violates our bullish call."
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