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13 Sep 2013
Flash: AUD/USD rejects sticking point around 0.9320 – OCBC Bank
FXstreet.com (Athens) - Emmanuel Ng of OCBC Bank notes that with the disappointing labor market numbers shaving off near term topside potential for the pair, AUD-USD has rejected the previously mentioned sticking point around 0.9320 and a retracement back towards 0.9200 cannot be discounted where buying interest may reemerge.
Key Quotes
“Thereafter, the 55-day MA (0.9118) may provide another floor on any potential dips.”
“On other fronts, the AUD and NZD have taken divergent paths on contrasting news flow with the cross now having dipped below 1.1400 and further heaviness cannot be ruled out in the near term on the back of contrasting rate expectations.”
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Key Quotes
“Thereafter, the 55-day MA (0.9118) may provide another floor on any potential dips.”
“On other fronts, the AUD and NZD have taken divergent paths on contrasting news flow with the cross now having dipped below 1.1400 and further heaviness cannot be ruled out in the near term on the back of contrasting rate expectations.”
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