USD Trading Outlook (26-02-2015)
AUD/USD NY walked in with AUD/USD near the lower end of Europe’s range. Early action saw the pair rise from the 0.7870 area and test towards 0.7890. AUD/NZD then rallied up to the 1.0475/80 zone to give AUD/USD an added boost. THe pair hit a 0.7903 high and saw little pullback as it sat just above 0.7895 late in the day.Oz Q4 CAPEX is the big risk in Asia. The Reuters poll sees a decline of 1.9% vs. the prior +0.20% result. With the market still positioned short AUD an above f/c result is likely to see AUD/USD rally further. We might then see 0.8000/30 tested where the 55-DMA and Jan 28 high sit.
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