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Aug 18, 2014
AUD/USD bears to test 0.93 handle ahead of Stevens?
FXStreet (Guatemala) - Emmanuel Ng, FX Strategist at OCBC Bank notes that Aussie markets await Stevens.
Key Quotes
"The pair may increasingly be hesitant towards upside prospects if geopolitical concerns continue to brew in the background”.
“Expect 0.9350 and the 55-day MA (0.9366) to be useful waypoints while any capitulation below 0.9300 may find initial support towards 0.9250 ahead of Stevens this week”.
“On the CFTC front, note that net leveraged AUD longs were cut in the latest week, perhaps serving as a useful caveat for undue aussie bulls."
Key Quotes
"The pair may increasingly be hesitant towards upside prospects if geopolitical concerns continue to brew in the background”.
“Expect 0.9350 and the 55-day MA (0.9366) to be useful waypoints while any capitulation below 0.9300 may find initial support towards 0.9250 ahead of Stevens this week”.
“On the CFTC front, note that net leveraged AUD longs were cut in the latest week, perhaps serving as a useful caveat for undue aussie bulls."