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AUD/USD keeps the bullish bias above 0.7065/70 – UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 23, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    The research team at UOB Group expects the pair to keep its positive stance above the 0.7065/70 area.

    Key Quotes

    “As highlighted several times in recent updates, the undertone for AUD is positive as long as above 0.7065/70 and a daily closing above 0.7200 would confirm the start of a bullish phase”.

    “We have the confirmation overnight and from here, the immediate target is for a move to the late December high of 0.7325/30 (next resistance is at 0.7385)”.

    “In order to maintain the current momentum, any pull-back should above 0.7170 but only a break below 0.7130 would indicate that our bullish view is wrong”.
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