Forex Flash: AUD/USD with enough support to break 1.06 - Societe Generale
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AUD/USD
FXstreet.com (Barcelona) - According to Sebastien Galy, FX currency strategist at Societe Generale, "a likely higher AUDUSD print should give the market enough support to break through the 1.06 key resistance"; he continues to argue that "it is the sad fate of currencies that are not easing to be pushed ever higher."
"AUDUSD is only hampered by extreme valuations slowing down this tendency. However, eventually the market will see past the hump of inflation and somewhat weak underlying economic fundamentals to price in more RBA easing. The break higher is hence unlikely to last for long and we most probably remain in a 1.03-1.06 range" Sebastien says.
"AUDUSD is only hampered by extreme valuations slowing down this tendency. However, eventually the market will see past the hump of inflation and somewhat weak underlying economic fundamentals to price in more RBA easing. The break higher is hence unlikely to last for long and we most probably remain in a 1.03-1.06 range" Sebastien says.
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