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Forex Flash: AUD/USD should stay supported around 1.04 – NAB/BNZ

FXstreet.com (Barcelona) - According to National Australia Bank and Bank of New Zealand currency strategists: “The AUD continues to display complete immunity from European travails,” the analysts say, expanding: “A still positive growth story, 3% yield and distance from the epicentre of angst all serving to keep the currency supported, suggesting minimal near term harm under either risk ‘on’ or ‘off’ scenarios.”

“The rise in the AUD TWI to 28 year highs will be irksome to the RBA but assuming no change in rates on Tuesday,” they note, “AUD/USD should stay supported around 1.04 or only a little below, in the absence of much stronger USD rally,” the team concludes.

Forex: AUD/USD turns bearish as stocks decline in Asia

The AUD/USD was trading above 1.0450 at the highest level since Wednesday's European session but turned to the downside falling more than 30 pips in a few minutes.
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Forex Flash: AUD below par later this year - RBS

“The AUD is caught somewhere between a safe haven and a high beta currency,” says Greg Gibbs, FX Trading Strategist at RBS, while AUD/USD is last at 1.0426, slightly lower for the session on Chinese share markets weakness. “Stress in Europe could weaken or strengthen the AUD, depending on how much contagion there is to global markets and commodities,” Greg adds, though “The AUD TWI shot to a new high yesterday,” he notes.
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