Filed Under:
Forex pairs in this Article » USD/JPY (Barcelona) - Emmanuel Ng of OCBC Bank notes that USD/JPY has its eyes on support, while the RBA are welcoming AUD/USD weakness.

Starting with USD/JPY, he notes that the pair is looking for implicit support on downside dips given the current dollar tone. He feels that any ability to stay above the 100-day MA (97.04) may tempt a breach above the 98.00 resistance ahead of the 55-day MA (99.10). Moving to AUD/USD, he highlights that the RBA´s Edwards warned against expecting further falls in AUD, but added that its recent weakness has been welcome. He writes, “Note that for the first time this Friday, the IMF is set to publish the AUD’s share of global reserves. If the data demonstrates decreasing appetite over the last few quarters, expect the AUD to remain structurally vulnerable.” He feels that despite some improvement in global risk appetite levels, another bout of broad dollar resilience may well threaten the 0.9200 floor for the AUD/USD.
comments powered by Disqus