13 Nov 2013
Flash: AUD/USD to remain top heavy - OCBC Bank
FXstreet.com (Barcelona) - Emmanuel Ng of OCBC Bank notes that the softer than expected 3Q wage cost readings this morning may continue to keep the AUD/USD top heavy.
Key Quotes
“If the rung at 0.9300 dislocates, expect the pair to gravitate towards 0.9260/70 before 0.9250.”
“In a nutshell, increasingly fragile global sentiment (especially towards growth/cyclical assets) coupled with the RBA’s continued discomfort with the AUD’s levels may leave the currency vulnerable to further downside probes.”
Key Quotes
“If the rung at 0.9300 dislocates, expect the pair to gravitate towards 0.9260/70 before 0.9250.”
“In a nutshell, increasingly fragile global sentiment (especially towards growth/cyclical assets) coupled with the RBA’s continued discomfort with the AUD’s levels may leave the currency vulnerable to further downside probes.”