2 Jul 2015
AUD/USD sees downside potential below 0.7630 – OCBC
FXStreet (Barcelona) - Emmanuel Ng, FX Strategist at OCBC Bank, sees downside potential for AUD/USD towards 0.7530 on a break below 0.7630.
Key Quotes
“With the heavy NZD infecting the AUD somewhat, the aussie may have little to fall back on in terms of near term inherent support given the still uninspiring global backdrop and with China busy with forestalling a further slump in its equity markets. Note that a sustained break below 0.7630 may portend a test towards recent lows around 0.7530.”
Key Quotes
“With the heavy NZD infecting the AUD somewhat, the aussie may have little to fall back on in terms of near term inherent support given the still uninspiring global backdrop and with China busy with forestalling a further slump in its equity markets. Note that a sustained break below 0.7630 may portend a test towards recent lows around 0.7530.”