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AUDUSD support 0.7075 - BBH

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 15, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Guatemala) - Analysts at Brown Brothers Harriman explained that the Australian dollar nearly matched sterling's strength.

    Key Quotes:

    "It held the $0.7000 area at the beginning of the week, and strong, even if overstated, jobs data helped lift the Aussie to almost $0.7160. The upside was held in check by the down sloping trend line of the October 12 high. It is a four-point trend line. It was near $0.7165 before the weekend and near $0.7115 at the end of next week. If the trend line is violated, the next target is near $0.7200-$0.7220. Initial support is seen in the $0.7075 area."
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