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2 Jun 2015
AUD/USD outlook remains negative – Westpac
FXStreet (Edinburgh) - The perspective for the Australian dollar remains on the bearish side against the US dollar, according to strategists at Westpac.
Key Quotes
“We maintain a negative bias for the A$, but given the sharp fall since last week's update, we would have to describe this as a mild negative bias”.
“We still expect the run of event risk in June to drive the currency lower, but are only targeting a low around 0.7500/50 in the weeks ahead”.
“Beyond that, much will depend on today's guidance from the RBA and of course from the FOMC in two weeks. Beyond this, we maintain a year end forecast of 0.73”.
“Bearish pattern, completed in recent weeks, is now confirmed by a negative medium term momentum bias. Key supports at 0.7530/70 are under pressure”.
Key Quotes
“We maintain a negative bias for the A$, but given the sharp fall since last week's update, we would have to describe this as a mild negative bias”.
“We still expect the run of event risk in June to drive the currency lower, but are only targeting a low around 0.7500/50 in the weeks ahead”.
“Beyond that, much will depend on today's guidance from the RBA and of course from the FOMC in two weeks. Beyond this, we maintain a year end forecast of 0.73”.
“Bearish pattern, completed in recent weeks, is now confirmed by a negative medium term momentum bias. Key supports at 0.7530/70 are under pressure”.