FXStreet (Bali) - AUD/USD should be holding within July’s 0.9347-0.9505 range for now, notes Westpac FX Team.



Key Quotes



"A quiet slate locally and in the US - plus little risk China’s GDP surprises markets in either direction - points to AUD/USD holding within July’s 0.9347-0.9505 range for now."



"The general undertow of USD weakness may well see AUD/USD probe the upper end of this range, perhaps 0.9460 resistance. But with commodity prices lacklustre and market speculation about a resumption of the RBA’s easing bias likely to linger, we see downside on AUD crosses such as NZD and GBP."



"The RBA minutes on Tue should not upset markets already 60% priced for a rate cut by year-end."



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    Equities Sink Closer to True Reversal, Pound Traders Read Election

  2. Forex News

    Sun/YouGov poll: Tories and Labour at 34%

  3. Forex News

    UK elections: The polls are a dead heat so far - TDS

  4. Forex News

    Dollar continues to suffer amid weak data

  5. Forex News

    GBP/USD outlook still bullish – Scotiabank

Trading Center