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22 May 2015
AUD/USD has probably made a top - Westpac
FXStreet (Guatemala) - The Westpac strategy group noted the conditions surrounding the Aussie and see the recent highs as a top.
Key Quotes:
"We see a number of reasons why the A$ bounced through the April/ early May period. However, without a further material weakening in the US$, we see the recent high as an important top here."
"The AUD is likely to remain in a 0.7850 to 0.8000 trading range through next week, but Westpac continues to forecast further weakness in the currency as the year progresses. We expect to see AUD trading down around 0.73 by year end."
Key Quotes:
"We see a number of reasons why the A$ bounced through the April/ early May period. However, without a further material weakening in the US$, we see the recent high as an important top here."
"The AUD is likely to remain in a 0.7850 to 0.8000 trading range through next week, but Westpac continues to forecast further weakness in the currency as the year progresses. We expect to see AUD trading down around 0.73 by year end."