AUD/USD: bulls need a close above 0.7110 – UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 3, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Edinburgh) - The research team at UOB Group notes that a close above 0.7110 could alow for further upside in the pair.

    Key Quotes

    “As we have pointed out several times in recent updates, despite the short-term AUD strength, only a daily closing above 0.7110 would shift the current neutral outlook to bullish”.

    “The quick drop from the high of 0.7130 yesterday is a clear sign that the recent short-term upward pressure has eased but it is too early to expect a sustained down-move. In other words, we remain neutral for now”.
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