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      AUD: Trading under stress – Westpac

      FXStreet (Delhi) – Sean Callow, Research Analyst at Westpac, suggests that it’s a little wonder then that AUD/USD stayed on the back foot, its attempt to rally in London fizzling out above 0.7060, sliding as low as 0.6989 in NY, hovering around 0.7000 early Sydney.

      Key Quotes

      “Spot iron ore prices didn’t help, falling for a third straight day, -1.6% to $55.30/tonne. AUD/USD is probably a little oversold so it should avoid a test of 0.6950 support for now but the bullish case post-FOMC seems to have faded. Rallies to 0.7035-45 should meet keen sellers.”

      GBP/USD ticks higher in Asia

      Sterling bears have loosened their grip on the GBP/USD pair in Asia today, paving the way for a correction to 1.5265 levels.
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      EUR/CHF around the top of the range near 1.0950

      EUR/CHF has been trading in a consolidative pattern throughout the Asian session on Thursday, keeping the tight range around the mid-1.0900s...
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