AUD: Bias remains for upside play – OCBC
Source Fxstreet
Australian Dollar (AUD) extended its run-up, helped by a firmer AU CPI print for 3Q while prospects of better US-China relations, firmer RMB and pro-risk appetite remain supportive of AUD. Pair was last at 0.66 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
Bias remains for AUD to trend gradually higher
"Daily momentum turned bullish while RSI rose. Bias remains for upside play. Resistance at 0.6620/30 levels before 0.67. Support at 0.6550/60 levels 21, 50 DMAs), 0.65 levels. We have long argued that a resilient RMB and RBA nearing end of rate cut cycle can also be supportive of AUD."
"Bias remains for AUD to trend gradually higher as USD softness is likely to return and markets refocus on Fed cut in the months ahead."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
In a recent CryptoQuant Quicktake post, contributor Crazzyblockk highlighted key Bitcoin (BTC) cost basis zones that the leading cryptocurrency must clear – or avoid breaking below – to
Apple projected its revenue for the current quarter ending in September well above Wall Street forecasts on Thursday.
OpenAI Introduces Lowest-Cost ChatGPT Subscription in India with UPI Payment OptionOn Tuesday, OpenAI introduced ChatGPT Go, its most affordable AI subscription tier, targeting the price-sensitive Indian market. Nick Turley, OpenAI’s Vice President and Head of ChatGPT, announced the launch via an X post, highlighting that users can pay through India’s Unified Payments Interface (UPI).
On Tuesday, OpenAI introduced ChatGPT Go, its most affordable AI subscription tier, targeting the price-sensitive Indian market. Nick Turley, OpenAI’s Vice President and Head of ChatGPT, announced the launch via an X post, highlighting that users can pay through India’s Unified Payments Interface (UPI).
ANZ Raises Gold Price Forecast to $3,800/Oz, Predicts Rally to Continue Through 2026Gold is expected to continue its upward momentum throughout 2025 and into early 2026, driven by ongoing geopolitical tensions, macroeconomic challenges, and market anticipation of U.S. monetary easing, according to analysts from ANZ in a research note released Wednesday.
Gold is expected to continue its upward momentum throughout 2025 and into early 2026, driven by ongoing geopolitical tensions, macroeconomic challenges, and market anticipation of U.S. monetary easing, according to analysts from ANZ in a research note released Wednesday.
Samsung forecasts Q3 profit of 12.1 trillion won, boosted by strong AI chip demand.
Related Instrument
