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AUD/USD top in place? – UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 6, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    According to the research team at UOB Group, the Aussie dollar could have carved an interim top above the 0.7700 handle.

    Key Quotes

    “The break below our 0.7550 stop-loss indicates that we have seen a short-term top at 0.7723 last week (our target at 0.7740 was not met)”.

    “The current pull-back appears to have scope to extend lower to test the recent low at 0.7475/80”.

    “Overall, this pair is expected to remain under pressure from here unless it can reclaim 0.7635 in the next 1 to 2 days”.
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