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14 May 2015
AUD/USD expected to retain upside momentum – OCBC
FXStreet (Barcelona) - Emmanuel Ng, FX Strategist at OCBC Bank, sees further upside gains possible ahead for AUD/USD, expecting the pair to face resistance at 0.8326.
Key Quotes
“With the USD underperforming across the board, any negativity from the disappointing Australian 1Q wage price data fizzled out with the AUD-USD surpassing 0.8100 on Wednesday.”
“With risk appetite levels still in sanguine territory and little contagion on the sentiment front at this juncture from a slowing Chinese economy, expect the pair to remain buoyant, with a multi-session resistance expected into the 200-day MA (0.8326).”
Key Quotes
“With the USD underperforming across the board, any negativity from the disappointing Australian 1Q wage price data fizzled out with the AUD-USD surpassing 0.8100 on Wednesday.”
“With risk appetite levels still in sanguine territory and little contagion on the sentiment front at this juncture from a slowing Chinese economy, expect the pair to remain buoyant, with a multi-session resistance expected into the 200-day MA (0.8326).”