Long AUDSGD after MAS easing policy and AUD employment data
Better than expected employment data from Australia this week boosted the AUD against most currencies. Due to the previously weak USD, AUDUSD had already moved into a bullish sentiment zone, and this weeks data adds to that conviction. We note however a potential trade setup for AUDSGD as the good Aussie data accompanied by the easing move by MAS allowed the pair to break above the 1.04 handle, to turn the current sentiment from a neutral sideways market to a bullish break out.
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