2 Dec 2013
Flash: AUD/USD has the greatest potential for a trend change - BBH
FXstreet.com (Barcelona) - The Australian dollar may have the greatest potential for a trend change in the period ahead, notes Marc Chandler, Global Head of Currency Strategy at BBH.
Key Quotes
"The MACDs are about to turn and the RSI did not confirm the new 12-week low. The Aussie bears struggled to sustain the downside momentum in the second half of last week. The first real test of the Aussie bears comes in near $0.9200."
"If the technicals are anticipating fundamentals, it may suggest either better than expected data and/or a central bank that continues to seem to be in no hurry to cut rates again from record lows."
"That said, we still do not want to rule out a rate cut in late Q1 2014."
Key Quotes
"The MACDs are about to turn and the RSI did not confirm the new 12-week low. The Aussie bears struggled to sustain the downside momentum in the second half of last week. The first real test of the Aussie bears comes in near $0.9200."
"If the technicals are anticipating fundamentals, it may suggest either better than expected data and/or a central bank that continues to seem to be in no hurry to cut rates again from record lows."
"That said, we still do not want to rule out a rate cut in late Q1 2014."