AUD/USD: flat to dovish outlook – OCBC

FXStreet (Barcelona) - Emmanuel Ng, FX Strategist at OCBC Bank, expects AUD/USD to remain in a 0.76-0.78 range, and expecting the positivity in the pair to fade.

Key Quotes

“AUD-USD may remain trapped in a 0.7600-0.7800 range with positivity from yesterday’s better than expected labor market numbers expected to fade.”

“Although yield differentials remain supportive of the pair on a multi-session horizon, look to the 55-day MA (0.7785) to continue to check the AUD’s advance in the near term. In the interim, our flat to dovish orientation towards the pair remains intact.”