12 May 2015
AUD/USD dips to find support at 0.7856 – OCBC
FXStreet (Barcelona) - With the Australian budget announcement scheduled ahead, Emmanuel Ng, FX Strategist at OCBC Bank, expects AUD/USD to maintain a 0.7856 – 0.8025 range.
Key Quotes
“The budget announcement at 0930 GMT may provide a minor distraction for the pair with while broad dollar sentiment may continue to hold sway in the interim.”
“In the interim, expect the pair to find good support on dips towards the 100-day MA (0.7856) before 0.7840 with the top end expected to be cordoned off by 0.8025.”
“On other front, with the NZD still weighed by accompanying RBNZ expectations, expect AUD-NZD to attempt to reach higher.”
Key Quotes
“The budget announcement at 0930 GMT may provide a minor distraction for the pair with while broad dollar sentiment may continue to hold sway in the interim.”
“In the interim, expect the pair to find good support on dips towards the 100-day MA (0.7856) before 0.7840 with the top end expected to be cordoned off by 0.8025.”
“On other front, with the NZD still weighed by accompanying RBNZ expectations, expect AUD-NZD to attempt to reach higher.”