8 Apr 2015
AUD/USD well supported at 0.75 – Westpac
FXStreet (Edinburgh) - Sean Callow, Strategist at Westpac, sees good support for the pair around the 0.7500 handle.
Key Quotes
“AUD/USD should trade a rough 0.75-0.78 range multi-week, exploring the higher end of the range near term, following the RBA’s surprise steady hand in April”.
“Indications that the Fed will postpone the start of its tightening cycle yet again should add to the support for AUD/USD around 0.75”.
“Signs of increased Japanese demand also argue for support for AUD on dips. Our short term fair value estimate is around 0.7650”.
Key Quotes
“AUD/USD should trade a rough 0.75-0.78 range multi-week, exploring the higher end of the range near term, following the RBA’s surprise steady hand in April”.
“Indications that the Fed will postpone the start of its tightening cycle yet again should add to the support for AUD/USD around 0.75”.
“Signs of increased Japanese demand also argue for support for AUD on dips. Our short term fair value estimate is around 0.7650”.