18 Jun 2015
AUD/USD expected to dip towards 0.76, 1M view – Westpac
FXStreet (Barcelona) - According to the Research Team at Westpac, US data ahead will likely reinforce the September rate hike view which would lead AUD/USD to break lower.
Key Quotes
“AUD/USD ground lower in London to 0.7660 into the FOMC statement then rebounded to a high of 0.7770, steadying around 0.7745. This leaves recent ranges firmly intact (0.76-0.78).”
“But we don’t see the FOMC meeting as a game-changer for USD, with US data in coming weeks likely to support expectations for a Sep rate hike. As such, we still see AUD/USD eventually breaking ranges to the down side, with our 1 month target still 0.76.”
Key Quotes
“AUD/USD ground lower in London to 0.7660 into the FOMC statement then rebounded to a high of 0.7770, steadying around 0.7745. This leaves recent ranges firmly intact (0.76-0.78).”
“But we don’t see the FOMC meeting as a game-changer for USD, with US data in coming weeks likely to support expectations for a Sep rate hike. As such, we still see AUD/USD eventually breaking ranges to the down side, with our 1 month target still 0.76.”