Treasure Chest | Jan 18 2012
What?
FX specialists at NABCapital predicted at the start of the week that AUD/USD was likely to rise to 1.0413. Today, the Aussie is trading pretty close to this target level, triggering the conclusion that most of the good news that is supporting AUD has now been priced in. NAB anticipates a pullback to 1.0150.
How to benefit?
NABCapital's FX specialists have advised their clientele to target 1.0150 while placing a stop at 1.051.
Background
It is NAB's inhouse view that the Aussie dollar will weaken in the first quarter of calendar 2012 on weaker growth domestically as well as in China.
Find out why FNArena subscribers like the service so much: "Your Feedback (Thank You)" – Warning this story contains unashamedly positive feedback on the service provided.
