From now on we Elev8
We're more than just a broker. We're an all-in-one trading ecosystem—everything you need to analyse, trade, and grow is in one place. Ready to elevate your trading?
Trading news
14 Aug 2017
AUD/USD: technicals are suggestive of exhaustion - Scotiabank
Analysts at Scotiabank explained that AUD appears to be struggling around its multi-year highs near 0.80 following an impressive 10% rally from its May low.
Key Quotes:
"Technicals are suggestive of exhaustion and narrowing spreads are eroding AUD support."
"Bullish AUD CFTC positioning is extended at the upper end of its multi-year range and we highlight the risk of an adjustment."
AUD is trading well above both our Q4 2017 target at 0.75 and our Q4 2018 target at 0.78."