29 Apr 2015
SEB: AUD/USD bids at 0.7940 – eFXnews
FXStreet (Barcelona) - With weaker USD and rising Iron ore prices supporting AUD/USD, the Research Team at SEB, see bulls retaining the upper hand as of now, as noted by eFXnews.
Key Quotes
“Iron ore (an important Australian export resource) has gained some 18% priced in AUD (+23% in USD) since early Apr. At the same the U.S. dollar has been on the back foot against most currencies and AUD is far from any exception to this.”
“We at least expected some intraday two-way traffic around 0.7940 before extension higher yesterday but this was quickly concluded with bulls retaining the upper hand.”
“Bids are now likely around 0.7940 while some offers should surface in the 0.8026\0.8092-zone.”
This content has been provided under specific arrangement with eFXnews.
Key Quotes
“Iron ore (an important Australian export resource) has gained some 18% priced in AUD (+23% in USD) since early Apr. At the same the U.S. dollar has been on the back foot against most currencies and AUD is far from any exception to this.”
“We at least expected some intraday two-way traffic around 0.7940 before extension higher yesterday but this was quickly concluded with bulls retaining the upper hand.”
“Bids are now likely around 0.7940 while some offers should surface in the 0.8026\0.8092-zone.”
This content has been provided under specific arrangement with eFXnews.