11 Jun 2015
AUD/USD: capped at 0.7790/0.7820 – Westpac
FXStreet (Barcelona) - The Westpac FX Strategy Team, shares the outlook for AUD/USD and crosses.
Key Quotes
“The A$ was trading slightly weaker into the employment data, with the US$ regaining some poise after last night’s aggressive sell off in USD/JPY. AUD was trading round the 0.7720/25 level ahead of the data. However, the much better than expected headline and detail saw the A$ burst higher, with 0.7793 the high on the day.”
“Having failed repeatedly in the 0.7790/ 0.7820 area in recent weeks, we still see the A$ as capped around that level i.e. 0.7780/ 0.7800. It looks like that level should hold again today.”
“However, on crosses, the A$ has done well. AUD/NZD is up 2.6% from last night’s close, driven by the surprise RBNZ rate cut/ stronger Australian employment data. It’s hard not to see that story continuing today.”
Key Quotes
“The A$ was trading slightly weaker into the employment data, with the US$ regaining some poise after last night’s aggressive sell off in USD/JPY. AUD was trading round the 0.7720/25 level ahead of the data. However, the much better than expected headline and detail saw the A$ burst higher, with 0.7793 the high on the day.”
“Having failed repeatedly in the 0.7790/ 0.7820 area in recent weeks, we still see the A$ as capped around that level i.e. 0.7780/ 0.7800. It looks like that level should hold again today.”
“However, on crosses, the A$ has done well. AUD/NZD is up 2.6% from last night’s close, driven by the surprise RBNZ rate cut/ stronger Australian employment data. It’s hard not to see that story continuing today.”