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AUD/USD still expects a pullback to 0.7480 – UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 12, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    According to analysts at UOB Group, the Aussie dollar could head towards the 0.7475/80 band in the near term.

    Key Quotes

    “We shifted to a neutral stance last Wednesday and expected the pull-back in AUD to extend lower to test the 0.7475/80 support”.

    “The low has been 0.7490 and the strong rebound yesterday indicates that the downward pressure has eased”.

    “That said, the mid-term outlook is still neutral and we expect this pair to trade in a broad 0.7490/0.7700 range, at least for another week or so”.
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