Monday, November 9, 2015

AUD/USD: RBA might cut, downside open - BBH

FXStreet (Guatemala) - Analysts at Brown Brothers Harriman explained that the Australian dollar fell 1.3% last week.

Key Quotes:

"The Reserve Bank was more optimistic about the economic outlook, but another rate cut cannot be completely ruled out. At the same time, the likelihood that the Fed's lift off may be a little more than a month away took its toll. The Aussie finished the week back below the monthly trendline that goes back to 2001. "

"It has been trading on both sides of it as its sharp losses that began at the start of H2 14 were consolidated. It comes in this month near $0.7130 and corresponds now to the 50 -day moving average. Ahead of it, resistance should be expected in the $0.7080 area."
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