until volatility riseS, AUD unlikely to decline - ANZ

FXStreet (Bali) - Daniel Been, FX Strategist at ANZ, has dissected the AUD price action, looking at both the variability in its performance across sessions and the news that drove daily moves, reaching interesting conclusions.

Key Quotes

"First, that the low level of volatility, rather than any fundamental factors, have been critical to supporting the AUD, as such until we see volatility rise, the AUD is unlikely to decline."

"Second, that global dynamics, rather than domestic will remain key to the direction of the AUD, and finally, that any sustained directional moves in the Asian trading session may signal that a larger move is imminent."