29 May 2014
AUD/USD upside limited - OCBC Bank
FXStreet (Barcelona) - Emmanuel Ng, FX Strategist at OCBC Bank, sees limited gains for the AUD/USD in the short term.
Key Quotes
"With 1Q private capex disappointing significantly at -4.20% this morning, upside for the AUD-USD in the near term may prove limited, especially in light of the current dollar environment".
"The 55-day MA (0.9273) is seen as a first resistance while support at 0.9200 may continue to remain within striking distance if sentiment unravels further."
Key Quotes
"With 1Q private capex disappointing significantly at -4.20% this morning, upside for the AUD-USD in the near term may prove limited, especially in light of the current dollar environment".
"The 55-day MA (0.9273) is seen as a first resistance while support at 0.9200 may continue to remain within striking distance if sentiment unravels further."