5 Aug 2015
AUD/USD remains negative in the near-term – OCBC Bank
FXStreet (Edinburgh) - In the view of FX Strategist at OCBC Bank Emmanuel Ng, the recent squeeze higher in the pair will be only temporary.
Key Quotes
“With yesterday’s RBA statement not perceived to be a game changer, we continue to think that the AUD may remain a function of the global growth/China/Commodity dynamic”.
“As such, expect potential for the pair to attempt to revert lower if necessary once the short squeeze has run its course”.
“If 0.7400-0.7450 is not re-taken with sufficient momentum, expect risks for a reversion lower if the broad dollar exerts itself further”.
Key Quotes
“With yesterday’s RBA statement not perceived to be a game changer, we continue to think that the AUD may remain a function of the global growth/China/Commodity dynamic”.
“As such, expect potential for the pair to attempt to revert lower if necessary once the short squeeze has run its course”.
“If 0.7400-0.7450 is not re-taken with sufficient momentum, expect risks for a reversion lower if the broad dollar exerts itself further”.