Forex Flash: AUD/USD set to target 1.0625 Sep 14 high - NAB
FXstreet.com (Barcelona) - Following the breakout of 1.0510/15 resistance on Tuesday, the immediate risk for the AUDUSD is now for a retest of the 1.0625 Sep 14 high, says NAB strategists.
NAB thinks that unless "there is a set-back in EURUSD, or any 'second take' on the Fed (both quite unlikely here in our view) then this level is likely to be tested in coming days." The bank warns, though, that speculative long positions in the $A are at record high, thus "profit taking tendances from this sector - alongside ongoing importer sales - should slow a further advance" NAB adds.
NAB thinks that unless "there is a set-back in EURUSD, or any 'second take' on the Fed (both quite unlikely here in our view) then this level is likely to be tested in coming days." The bank warns, though, that speculative long positions in the $A are at record high, thus "profit taking tendances from this sector - alongside ongoing importer sales - should slow a further advance" NAB adds.
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