13 Jul 2015
AUD/USD a visit to 0.74 remains on the cards – OCBC Bank
FXStreet (Edinburgh) - Analysts at OCBC Bank expect the pair to grind lower to the 0.74 mark in the medium term.
Key Quotes
“With the risk appetite/commodity environment expected to remain fragile, the AUD-USD may continue to reject the topside at 0.7500 while attempting to angle for sub-0.7400 levels”.
“To this end, note that CFTC net leveraged AUD shorts picked up in the latest week, underscoring investor caution toward the cyclicals”.
Key Quotes
“With the risk appetite/commodity environment expected to remain fragile, the AUD-USD may continue to reject the topside at 0.7500 while attempting to angle for sub-0.7400 levels”.
“To this end, note that CFTC net leveraged AUD shorts picked up in the latest week, underscoring investor caution toward the cyclicals”.