Forex Flash: Choppy price action leaves AUD/USD neutral on week – Westpac

FXstreet.com (Barcelona) - "Attention should be firmly offshore, where equity price action has reinforced our view that AUDUSD will be very stretched on any renewed probe of the mid-high 1.0400s.( The fiscal cliff negotiations seem likely to produce more disappointment than hope with the deadline still 6 weeks away but there could be at least a fleeting bounce in risk appetite if Greece gets its cash on Tuesday." writes Sean Callow, a Global Markets Strategist at Westpac.

According to Callow, "Initial support on the AUDUSD is the 200-day MA at 1.0324, which should give way though we doubt we will see a dip below 1.0250. With Asian news flow still mostly positive, AUD price action should be choppy enough to leave us neutral on the week."