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23 Sep 2014
AUD/USD points southwards near term – OCBC Bank
FXStreet (Edinburgh) - In the opinion of Emmanuel Ng, FX Strategist at OCBC Bank, the negative bias could prevail in AUD/USD in the near term.
Key Quotes
“Expect the pair to remain under downward pressure in the current environment with 0.8900 now serving as a resistance instead”.
“Prospects for the pair in the near term may remain somewhat dire, with either discretionary USD strength and/or China/global growth concerns posing as downside risks”.
“Next visible support is expected towards 0.8820 if 0.8900 is not re-taken”.
Key Quotes
“Expect the pair to remain under downward pressure in the current environment with 0.8900 now serving as a resistance instead”.
“Prospects for the pair in the near term may remain somewhat dire, with either discretionary USD strength and/or China/global growth concerns posing as downside risks”.
“Next visible support is expected towards 0.8820 if 0.8900 is not re-taken”.