Currency Analyst since 2010

OCBC: comments on AUD/USD

AUD/USD reached $0.9650 today. The initial dip during the Asian session found support just above $0.9600. As well as kiwi, Aussie was supported by the positive Chinese data and the expectations of a delay in the Fed’s QE tapering.

OCBC Bank: “AUDUSD may yet have some upside in the near term given the current dollar environment although we would expect some consolidation to materialize as the pair moves into the vicinity of its 200-day MA ($0.9762) on a multi-session horizon”.

Resistance is at $0.9665 (Jun.14 high), $0.9697 and $0.9713 (50% Fibo retracement). Support lies at $0.9528, $0.9440.

Chart. Daily AUD/USD

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