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11 Jun 2014
AUD/USD: Next upside way-point circa 0.9400/10 - OCBC
FXStreet (Bali) - Emmanuel Ng, FX Strategist at OCBC Bank, suspects that further upside potential exists in the AUD/USD near term.
Key Quotes
"The improvement in the June Westpac consumer confidence index to 93.2 this morning may encourage further interest towards the aussie. Going ahead, amid the search for yield, the pair’s outlook looks increasingly constructive as it puts increasing distance between itself and its 55-day MA (0.9310). Expect the next upside waypoint at around 0.9400/10."
Key Quotes
"The improvement in the June Westpac consumer confidence index to 93.2 this morning may encourage further interest towards the aussie. Going ahead, amid the search for yield, the pair’s outlook looks increasingly constructive as it puts increasing distance between itself and its 55-day MA (0.9310). Expect the next upside waypoint at around 0.9400/10."