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AUD/USD a test of 0.9100 is not ruled out – OCBC Bank

FXStreet (Edinburgh) - Emmanuel Ng, FX Strategist at OCBC Bank, said the pair has the potential to stab the 0.9100 area.

Key Quotes

“Despite the jawboning of the AUD by the RBA’s Kent on early Tuesday, the subsequent release of the RBA meeting minutes (pointing to the potential for a further build-up in asset prices) lent background support to the pair”.

“The AUD floated higher into the end of the global day as the broad dollar softened”.

“With risk appetite improving at this juncture and yesterday’s RBA minutes helping to douse rate cut expectations, the pair may attempt to test the 0.9100 ceiling ahead of the FOMC if the greenback continues to soften ahead of the FOMC”.

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