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Expect further consolidation in AUD/USD – UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 11, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    The research team at UOB Group sees the Aussie dollar extending its consolidative pattern in the near term.

    Key Quotes

    “The current positive undertone could lead to a higher AUD today but at this stage, any up-move is expected to struggle near the major 0.7150/55 resistance. The 0.7039 low seen yesterday is likely strong enough to hold any pull-back from here”.

    “The recent rally in AUD was short-lived and the sharp from last week’s peak of 0.7242 is likely part of a broad consolidation phase. Expected range; 0.6950/0.7240”.
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