17 Feb 2015
AUD/USD inputs still bearish - Westpac
FXStreet (Guatemala) - Analysts at Westpac Banking Corporation explained that the RBA's Feb minutes lower the chances of a March cut, helping limit AUD downside.
Key Quotes:
"Multi-day/week though, a resilient USD is likely to combine with ongoing commodity price weakness to keep chipping away at AUD/USD."
"There seems little to prevent new lows since May 2009, looking for 0.75 over the month."
"The trailing stop on our existing AUD short (opened 28 Jan at 0.8020) was hit today, locking in a +2.87% return. However, with two of three inputs still bearish we leave orders to sell another unit of AUD at 0.7985 with a stop at 0.8075."
Key Quotes:
"Multi-day/week though, a resilient USD is likely to combine with ongoing commodity price weakness to keep chipping away at AUD/USD."
"There seems little to prevent new lows since May 2009, looking for 0.75 over the month."
"The trailing stop on our existing AUD short (opened 28 Jan at 0.8020) was hit today, locking in a +2.87% return. However, with two of three inputs still bearish we leave orders to sell another unit of AUD at 0.7985 with a stop at 0.8075."