Flash: AUD/USD expected to remain heavy - OCBC Bank

Emmanuel Ng of OCBC Bank is expecting AUD/USD to remain heavy due to contrasting economic tones on both sides of the pair.

Key Quotes

“The latest US labor market numbers (contrast) with the more dovish AUD undertones emanating from last Friday’s RBA Quarterly Monetary Statement.”

“If the pair continues to remain submerged below its 55-day MA (0.9387), a drift towards 0.9268 and then 0.9200 going ahead cannot be discounted.”