Australia Dollar May Find Critical Support Above US$0.74

23 ноября 2016, 23:07
Oleh Yemeliukov

The Australian dollar may be worth buying on any break above US$0.7442, IG says. While any further selloff in emerging-market currencies would hurt the Australian dollar--often traded as a proxy-- technical charts indicate that the low of US$0.7442 it hit on 13 September could be a critical support level, the firm says. "It is clear that the market wants to defend this level, so a break above here would suggest a short-term trading buy," IG says. AUD/USD was last trading at 0.7386.

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