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Aug 06 - 11:00 AM
AUD: Around 3.8% Undervalued; RSI Points To Scope For A Turnaround N-Term - MUFG
First appeared on eFXplus on Aug 06 - 09:14 AM

MUFG Research discusses AUD/USD outlook on the valuation front, and flags a scope for a turnaround in the near-term.

"Our yield-differential model suggests that the Aussie is undervalued against the dollar and that fair valuation is currently closer to the 0.7000 level it held against the US dollar before its recent decline in July.

The Relative Strength Index indicated yesterday that a turnaround could be expected – it was the most oversold of the G10 currencies," MUFG notes. 

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Source:
BTMU Research/Market Commentary

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