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AUD/USD upside appears capped near 0.7270 – OCBC

FXStreet (Edinburgh) - Emmanuel Ng, FX Strategist at OCBC Bank, sees AUD/USD's upside finding strong resistance around the 0.7270 region.

Key Quotes

“Expect any FOMC-induced ripples to have a relatively greater impact on the cyclicals”.

“In the interim, the pair may attempt to solidify recent gains ahead of the FOMC”.

“The 55-day MA (0.7274) may limit if 0.7200 is breached with any momentum while initial support is expected into 0.7100”.

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