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7 Oct 2013
Flash: AUD/USD looks poised to retest 0.9530 - BBH
FXstreet.com (Barcelona) - On the back of a more neutral RBA statement last week, Marc Chandler, Global Head of Currency Strategy at BBH, sees now the Aussie poised to retest the post-FOMC high near $0.9530.
Key Quotes
"Several Australian banks have pushed out their rate cut forecasts into 2014."
"Technically, the Aussie looks poised to retest the post-FOMC high near $0.9530, which corresponded to the 38.2% retracement of the sharp decline that began in mid-April."
"The double bottom traced out in August suggests potential to push through $0.9600, while the next retracement objective is just above $0.9700."
Key Quotes
"Several Australian banks have pushed out their rate cut forecasts into 2014."
"Technically, the Aussie looks poised to retest the post-FOMC high near $0.9530, which corresponded to the 38.2% retracement of the sharp decline that began in mid-April."
"The double bottom traced out in August suggests potential to push through $0.9600, while the next retracement objective is just above $0.9700."