FXStreet (Barcelona) – Emmanuel Ng, FX Strategist at OCBC Bank, expects AUD/USD to remain in a 0.76-0.78 range, and expecting the positivity in the pair to fade.
Key Quotes
“AUD-USD may remain trapped in a 0.7600-0.7800 range with positivity from yesterday’s better than expected labor market numbers expected to fade.”
“Although yield differentials remain supportive of the pair on a multi-session horizon, look to the 55-day MA (0.7785) to continue to check the AUD’s advance in the near term. In the interim, our flat to dovish orientation towards the pair remains intact.”
(Market News Provided by FXstreet)