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CA: AUD may correct higher

Analysts at Credit Agricole think that as the market will be expecting stable policy of the Reserve Bank of Australia, the dynamics of AUD will be determined by the external factors.

The specialists underlined that at its last meeting the RBA though saying that AUD was high by historical standards, didn’t call it overvalued according to most fundamental estimates.

Credit Agricole sees the risk of more a deeper correction in AUD/USD and don’t recommend short positions at the current levels.

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