FXStreet (Barcelona) – The Research Team at ANZ shares the outlook and expected ranges for AUD/USD and crosses.
“AUD/USD: The USD found solid demand after core CPI strengthened and markets looked through the -0.2% y/y headline print. Today is expected to be very quiet.
Expected range: 0.7740 – 0.7910”
“AUD/NZD: With AUD/NZD closing close to the 200dma, direction is all about technical indicators today. However, this week direction is in the hands of NZD developments with Fonterra’s opening milk price due later in the week. We were stopped out of our long AUD/NZD at 1.0699 in choppy price action with a 4.6% gain. We still like the cross and await opportunity to re-enter.
Expected range: 1.0660 – 1.0770”
“AUD/EUR: EUR/USD closed below important levels on Friday, despite better German IFO confidence relative to expectations. ECB policy and Greek issues are weighing on EUR and the market remains in favour of short EUR positions.
Expected range: 0.7060 – 0.7200”
“AUD/JPY: The BoJ held policy unchanged as expected on Friday, leaving this cross to find direction from AUD and USD moves.
Expected range: 94.10 – 96.10”
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