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AUD/USD: we are headed for a bullish phase after RBA - UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 7, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Guatemala) - Analysts at UOB group explained that the outlook for AUD/USD, in their opinion, is neutral.

    Key Quotes:

    "Improving upward momentum but too early to expect a sustained up-move. As pointed yesterday, while short-term upward momentum is improving rapidly, it is too early to expect a sustained up-move.

    However, the recent low at 0.6934 is acting as a solid support now and this level is unlikely to come under threat any time soon. On the upside, a clear break above 0.7130 (say a daily close above this level) would indicate the start of a bullish phase."
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