Flash: AUD/USD, hard to get too bearish from 0.92 – Westpac

FXstreet.com (Barcelona) – According to Westpac FX Team, AUD/USD should hold in a rough 0.90-0.91 range with some short term upside potential, yet 0.9270 is likely to be very strong resistance, especially early in the week, the bank said.

Key Quotes

“While last week we noted that we expected RBA Governor Stevens to take another verbal swing at AUD, the extent of its decline over the full week has surprised us. It is more than just a USD move, with trade-weighted AUD falling sharply last week to lows dating to early Sep.”

“The outlook for Chinese growth and commodities hasn’t really changed and …read more