OctaFX | OctaFX Forex Broker
Open trading account

AUD/NZD to remain on the back foot - Westpac

FXStreet (Bali) - Sean Callow, FX Strategist at Westpac, expects AUD/NZD to remain on the back foot near term.

Key Quotes

"AUD/NZD’s firm rejection at 1.13 should keep the pair on the back foot near term, with risks of a test of key support at 1.0910/30. Relative commodity prices and positioning are weighing for now."

"However, the RBA’s very clear signal of a steady hand into 2015 contrasts with the more dovish inflation outlook at the RBNZ in its Sep MPS, which should support AUD/NZD in Q4. Moreover, we continue to look for a recovery in iron ore prices in coming months, such that AUD/NZD trade with a 1.09 handle should draw buyers looking for a push to 1.14 during Q4."

USD/JPY: Increased risk for further upside near term - JPMorgan

According to JP Morgan FX Strategists, USD/JPY has confirmed a bullish shift with an increased risk for further upside in the coming weeks.
Read more Previous

NZD/USD sold on growth towards 0.8200 pivot

NZD/USD climbed to 0.8200 resistance and retraced back to 0.8176 as strong sell orders capped the upside. The pair is about 10 pips higher on the day and may continue the upside
Read more Next
Start livechat