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Forex Flash: AUD/USD bias bearish - NAB

By FXstreet.com,  September 17, 2012, 12:09:00 AM EDT

FXstreet.com (San Francisco) - According to National Australia Bank, AUD is noted reacting positively to QE3 but isn't keeping up on the crosses, which NAB expects to continue. NAB also says: "Carry trades support the AUD against the USD, but the diverging direction with commodity prices may create some pressure. We prefer to sell AUD/USD into strength above 1.06; and see AUD/EUR resuming its downward trend."




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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