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AUD/USD now points to 0.8933 – OCBC Bank

FXStreet (Edinburgh) - The upbeat tone persists around the Aussie dollar, with its next target being the retracement at 0.8933, suggested Emmanuel Ng, FX Strategist at OCBC Bank.

Key Quotes

“Early this morning, the September labor market numbers disappointed (following data revisions) at -29.7k with the participation rate also easing to 64.5%”.

“With clarity over the data revisions still somewhat foggy, the pair may in the interim continue to look towards the greenback for cues”.

“The pair may potentially test higher in the current environment with aminor Fibo retracement around 0.8822 already breached”.

“On this front, look towards the 0.382 Fibo retracement level of 0.8933 as the next upside waypoint”.

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