18 Jul 2014
AUD/USD supported around 0.9320 – Westpac
FXStreet (Edinburgh) - Analysts at Westpac expect decent support for the pair in the area of 0.9320.
Key Quotes
“Commodity prices are broadly neutral at the moment but China’s GDP and June IP data has caused some upward revision among forecasters of Chinese growth, a handy backdrop”.
“This however is probably sufficient only to support AUD against vulnerable currencies such as NZD and EURwhere yield support is waning, rather than producing a topside range break on AUD/USD”.
“The June low of 0.9322 should hold, with 0.9450/60 still capping rallies”.
Key Quotes
“Commodity prices are broadly neutral at the moment but China’s GDP and June IP data has caused some upward revision among forecasters of Chinese growth, a handy backdrop”.
“This however is probably sufficient only to support AUD against vulnerable currencies such as NZD and EURwhere yield support is waning, rather than producing a topside range break on AUD/USD”.
“The June low of 0.9322 should hold, with 0.9450/60 still capping rallies”.