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13 Aug 2014
AUD/USD: Fade any upticks to 0.9300 - OCBC
FXStreet (Bali) - Emmanuel Ng, FX Strategist at OCBC Bank, suggests to fade any upticks to 0.9300 in AUD/USD.
Key Quotes
"This morning, the Aug Westpac consumer confidence improved to 98.5 from 94.9 the previous month while the2Q wage cost index came in largely as expected at +2.6% yoy."
"The pair may find near term support as a result while China data points later in the morning may have a greater bearing. At this juncture we would prefer to fade any upticks to 0.9300 with the 0.9250 support still looking tenuous and with investors still not expected to return to carry in a significant way."
Key Quotes
"This morning, the Aug Westpac consumer confidence improved to 98.5 from 94.9 the previous month while the2Q wage cost index came in largely as expected at +2.6% yoy."
"The pair may find near term support as a result while China data points later in the morning may have a greater bearing. At this juncture we would prefer to fade any upticks to 0.9300 with the 0.9250 support still looking tenuous and with investors still not expected to return to carry in a significant way."