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AUD/USD door open for a recovery? – Westpac

FXStreet (Edinburgh) - Sean Callow, FX Strategist at Westpac, sees the potential for a climb to 0.9000 in AUD/USD.

Key Quotes

“Specs may not have large AUD shorts compared to e.g. EUR and JPY but with confidence in USD shaken, the bias is for further AUD/USD recovery”.

“A relatively low key local data week will leave pricing on the RBA cash rate very flat while iron ore prices should avoid substantial further decline”.

“Initial scope for 0.8935, then 0.90, which would only be a one month high”.

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