14 Jan 2016
AUD/USD: fade rallies towards 0.7050/0.7100 – Westpac
FXStreet (Edinburgh) - Strategist at Westpac Robert Rennie suggested selling the upticks in the Aussie dollar around the 0.7050/0.7100 area.
Key Quotes
“While there will be no shortage of data sceptics, a robust labour market and a solid pipeline of potential M&A related demand are factors we think will make AUD sticky as we approach the Aug/Sep lows”.
“However, with iron ore below $40, crude hovering round $30 and weak China data there will be willing sellers up towards 0.7050/ 0.7100leaving us in a sticky range for the foreseable future”.
Key Quotes
“While there will be no shortage of data sceptics, a robust labour market and a solid pipeline of potential M&A related demand are factors we think will make AUD sticky as we approach the Aug/Sep lows”.
“However, with iron ore below $40, crude hovering round $30 and weak China data there will be willing sellers up towards 0.7050/ 0.7100leaving us in a sticky range for the foreseable future”.