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3 Apr 2014
AUD/USD - Break below 0.92 paves way to 0.9138 - OCBC
FXStreet (Bali) - Emmanuel Ng, FX Strategist at OCBC Bank, thinks a break below 0.92 in the AUD/USD may expose 0.9138.
Key Quotes
"The AUD was undermined slightly by soft building approvals data but the pair still managed to weather the stronger dollar by the end of the global day. The China PMIs this morning may present some background data risks for the pair today (note mixed signals from the trade and retail sales numbers this morning) and any further fatigue towards the aussie may invite a capitulation towards 0.9200 and thereafter the 200-day MA (0.9138)."
Key Quotes
"The AUD was undermined slightly by soft building approvals data but the pair still managed to weather the stronger dollar by the end of the global day. The China PMIs this morning may present some background data risks for the pair today (note mixed signals from the trade and retail sales numbers this morning) and any further fatigue towards the aussie may invite a capitulation towards 0.9200 and thereafter the 200-day MA (0.9138)."