AUD/USD rallies limited around 0.7280 – OCBC

By FXStreet FXStreet (Edinburgh) – In the opinion of FX Strategist at OCBC Bank Emmanuel Ng, occasional bullish attempts in the pair could struggle in the 0.7280 area.

Key Quotes

“Expect an increasingly neutral stance for the pair in the immediate term with global macro conditions expected to continue to take a backseat for now”.

“Instead, risk appetite and dollar considerations may come to the fore in the interim”.

“Beyond 0.7200, the 55-day MA (0.7281) may be expected to cap while a floor at 0.7000 is perceived to remain intact in the interim”.
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Source:: FX Street