11 Apr 2014
AUD/USD to range ahead of fresh Chinese data - Arab Bank
FXStreet (Bali) - David Scutt, Treasury Dealer at Arab Bank, expects the AUD/USD to continue to range near highs on Friday, as participants await for further clues over the state of the Chinese economy.
Key Quotes
"A rare session of consolidation, rather than gains, for the AUDUSD overnight with the pair operating in a relatively-thin range between .9401-.9461."
"Despite the arrival of further Chinese data today, this time CPI and PPI data for March, it’s likely the pair will continue to range trade as investors await the arrival of further Chinese data over the course of next week."
"Support is found at .9400 with resistance kicking in at the overnight high of 0.9461."
Key Quotes
"A rare session of consolidation, rather than gains, for the AUDUSD overnight with the pair operating in a relatively-thin range between .9401-.9461."
"Despite the arrival of further Chinese data today, this time CPI and PPI data for March, it’s likely the pair will continue to range trade as investors await the arrival of further Chinese data over the course of next week."
"Support is found at .9400 with resistance kicking in at the overnight high of 0.9461."