1. Hello Guest Do you know binary.com offers exclusive $20 No Deposit Bonus for FX Binary Point visitors? Click here to sign up

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

    Joined:
    Oct 7, 2015
    Messages:
    27,524
    Likes Received:
    0
    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”.
    For more information, read our latest forex news.
     

Share This Page