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26 Feb 2014
Flash: AUD/USD could unravel towards the 55D MA at 0.8911 - OCBC Bank
FXStreet (Barcelona) - Emmanuel Ng, FX Strategist at OCBC Bank remains constructive on AUD/USD but is mindful of an unraveling of sentiment.
Key Quotes
"The disappointing 4Q construction numbers and renminbi jitters this morning took a bite out of the AUD/USD with the pair testing below 0.9000.”
“Although we retain a constructive tone on the AUD/USD (on the back of a vulnerable broad dollar), expect any further unraveling of sentiment to weigh on the pair in the near term, with the 55-day MA at around 0.8911."
Key Quotes
"The disappointing 4Q construction numbers and renminbi jitters this morning took a bite out of the AUD/USD with the pair testing below 0.9000.”
“Although we retain a constructive tone on the AUD/USD (on the back of a vulnerable broad dollar), expect any further unraveling of sentiment to weigh on the pair in the near term, with the 55-day MA at around 0.8911."