20 Nov 2013
Flash: AUD may lack conviction to push higher - OCBC Bank
FXstreet.com (Edinburgh) - Emmanuel Ng of OCBC Bank notes that AUD/USD also crept higher despite the RBA meeting minutes with a soft dollar environment prodding the pair higher.
Key Quotes
“The pair may continue to mull its 55-day MA (0.9428) with the next resistance expected at
0.9465/70 and support seen towards 0.9400 and then 0.9375.”
“Despite CNY chatter, positive risk appetite levels and a vulnerable dollar, we note the apparent lack of conviction for the AUD to push substantially higher at this juncture.”
Key Quotes
“The pair may continue to mull its 55-day MA (0.9428) with the next resistance expected at
0.9465/70 and support seen towards 0.9400 and then 0.9375.”
“Despite CNY chatter, positive risk appetite levels and a vulnerable dollar, we note the apparent lack of conviction for the AUD to push substantially higher at this juncture.”