FXstreet.com (Córdoba) - The Wells Fargo analyst team is broadly neutral on the Australian dollar. "Global positives include improving financial market conditions, the accommodative stance of the major central banks, and a gradual pick up in global growth", they explain. "Local negatives should provide an offset however, including slowing activity, central bank rate cuts and existing speculative currency positions, leaving us with a balanced outlook on the Australian currency over time".
Wells Fargo sees AUD/USD at 1.0200 in sixth months and 1.0300 in 12. Meanwhile analysts put near-term support at the September low of 1.0167, resistance at the late-September highs at 1.0476 and 1.0521.
Wells Fargo sees AUD/USD at 1.0200 in sixth months and 1.0300 in 12. Meanwhile analysts put near-term support at the September low of 1.0167, resistance at the late-September highs at 1.0476 and 1.0521.
