Forex Flash: AUD/USD potential upside ahead – Danske Bank

The Aussie dollar is prolonging its weekly upside on Wednesday, bolstered by the recent RBA decision to keep the refi rate unchanged at 3.0% in combination with stronger-than-expected domestic data.

“Decent Q4 GDP figures out of Australia helped extend the move higher in AUD initiated earlier this week; with speculative positioning suggesting room for more longs and RBA signalling it is on a temporary hold, we could see further upside in the near term”, remarked C.Tuxen, Senior Analyst at Danske Bank.