AUD/USD – Carry demand to keep Aussie bid

  • Despite the rise in vols, the carry trades remain in demand
  • AUD/JPY is trading at 15-month highs and could test the 100.00 level soon
  • AUD/NZD uptrend has also gained on momentum and EUR/AUD will remain under pressure post-ECB
  • This should keep the Aussie supported overall
  • In AUD/USD, I expect to see a continuation of the 0.92-0.95 range, but with a mild upside bias
  • Buy dips towards 0.93 and 0.9270, selling rallies towards 0.95 the preferred strategy at the moment

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