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9 Sep 2013
Flash: AUD/USD may tilt higher - OCBC Bank
Emmanuel Ng of OCBC Bank feels that the AUD/USD may tilt slightly higher in the near term.
Key Quotes
AUD/USD may tilt slightly higher in the near term on a confluence of a softer broad dollar and potentially supportive sentiment towards the China economic landscape.
“On the CFTC front, net speculative AUD shorts increased ever so slightly in the latest week but the pair may look to challenge the 0.9230/35 resistance towards 0.928, while initial support is expected towards the 55-day MA (0.9113).”
Key Quotes
AUD/USD may tilt slightly higher in the near term on a confluence of a softer broad dollar and potentially supportive sentiment towards the China economic landscape.
“On the CFTC front, net speculative AUD shorts increased ever so slightly in the latest week but the pair may look to challenge the 0.9230/35 resistance towards 0.928, while initial support is expected towards the 55-day MA (0.9113).”