8 Apr 2014
AUD/USD to range trade until next catalyst - Arab Bank
FXStreet (Bali) - David Scutt, Treasury Dealer at Arab Bank in Australia, believes the AUD/USD's behaviour for the Asian session ahead will be range trading ahead of Thursday's Aus jobs and China's trade data.
Key Quotes
"A quiet session for the AUDUSD overnight with the pair easing lower on the back of falls in global equities. While softer overnight, given we have major events approaching later this week, local unemployment data and Chinese trade figures on Thursday just to name two, we suspect the pair will range trade from here as markets await the next catalyst to provide direction for the Aussie. Support is found between .9257-50 with selling pressure likely to resume ahead of .9300."
Key Quotes
"A quiet session for the AUDUSD overnight with the pair easing lower on the back of falls in global equities. While softer overnight, given we have major events approaching later this week, local unemployment data and Chinese trade figures on Thursday just to name two, we suspect the pair will range trade from here as markets await the next catalyst to provide direction for the Aussie. Support is found between .9257-50 with selling pressure likely to resume ahead of .9300."