🚦🛑 AUD/USD Long Stop Profit Triggered At 0.7540: Westpac
- Rosbel Durán
- Apr 12, 2022
- 1 min read
We have taken stop profit on our long from our March 15 buy recommendation at 0.7190 on the NY close below 0.7450.
With the focus this week on US CPI driving the US$ higher, and the Fed set to deliver two 50bps hikes in May and June plus commence an aggressive balance sheet rundown, the DXY should remain bid while the A$ takes a backseat. A dip back to 0.7310/15 is possible.
We do, however, expect to see further A$ gains towards the 0.77 to 0.78 region in the second half of this year, and thus would be looking for opportunities to buy a dip.
-Westpac Strategy
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