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5 May 2015
AUD/USD might fall below 0.7800 – OCBC
FXStreet (Barcelona) - Emmanuel Ng, FX Strategist at OCBC Bank, gives the outlook for AUD/USD into the RBA interest rate decision.
Key Quotes
“The AUD also under performed its G10 peers on Monday despite the AUD-USD managing to hold steady during the session. The April AiG services index came in at a lower than expected 49.7 while the trade deficit also came in at a wider than expected –AUD1.322bn this morning although the pair may continue to hinge on the RBA rate decision later in the session.”
“In the interim, the 0.7800 support may be persisted to persist but may prove porous if the RBA comes across as more dovish than expected.”
Key Quotes
“The AUD also under performed its G10 peers on Monday despite the AUD-USD managing to hold steady during the session. The April AiG services index came in at a lower than expected 49.7 while the trade deficit also came in at a wider than expected –AUD1.322bn this morning although the pair may continue to hinge on the RBA rate decision later in the session.”
“In the interim, the 0.7800 support may be persisted to persist but may prove porous if the RBA comes across as more dovish than expected.”