25 Sep 2013
Flash: AUD/USD, look to fade moves towards 9360-9420 - NAB
FXstreet.com (Barcelona) - According to NAB FX desk, AUD should see significant demand around 9250-9280 on Corp interest, as per NAB's order book.
Key Quotes
"Topside supply 9410-50 mix of Corp and spec with short term weakness just sitting above and then better selling all the way up to 9650 as has been our book make up over the last few months."
"For choice today look for 9360-9420 to cap with slight improvement in USDs matched by better sentiment, so look to fade moves towards those extremes with a risk that weakness under 9350 might trigger first."
Key Quotes
"Topside supply 9410-50 mix of Corp and spec with short term weakness just sitting above and then better selling all the way up to 9650 as has been our book make up over the last few months."
"For choice today look for 9360-9420 to cap with slight improvement in USDs matched by better sentiment, so look to fade moves towards those extremes with a risk that weakness under 9350 might trigger first."