Wednesday, November 18, 2015

AUD/USD: mixed outlook between 9/21 DMA range - Scotiabank

FXStreet (Guatemala) - Eric Theoret, CFA, CMT FX Strategist at Scotiabank explained that AUD’s response to the RBA minutes was remarkably muted, with the dovish tone largely dependent on concerns surrounding employment.

Key Quotes:

"Concerns that were subsequently mitigated by last week’s impressive employment release."

"Wages appear to be the primary focus for the RBA."

Technically, AUD signals are mixed...Resistance is above the 50 day MA (0.7142), and we note that AUD has recently been bound between the 9 and 21 day MA’s (0.7088 and 0.7140, respectively)."
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