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AUD/USD focus remains on 0.7725/50 – UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 13, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The research team at UOB Group noted the relevance of the 0.7725/50 band in AUD/USD.

    Key Quotes

    AUD touched a low of 0.7490 late last week and the subsequent up-move from the bottom has been more rapid and resilient than expected”.

    “While short-term upward momentum has improved considerably, only a clear break above the strong 0.7725/50 resistance zone would indicate the resumption of the bullish trend”.

    “In the meanwhile, this pair is expected remain underpinned and the upward pressure will continue to increase unless there is a move back below 0.7580/85 in the next 1 to 2 days”.
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