AUD/USD remains below 0.88 and is likely to remain relatively sidelined ahead of China data. The data is out at 1pm AEDT and perhaps could finally help the pair bounce off three-year lows. We are currently trading at around 0.876 and a better-than-expected print could see the pair trade back towards previous support in the 0.8850 region. That’s where I would be looking for resistance and perhaps closer to 0.89 would encourage fresh selling. CPI data could be the trigger of fresh selling as it is likely to remain benign given the weaker economic trends especially jobs being lost.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
0 comments:
Post a Comment