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23 Feb 2016
AUD/USD keeps the bullish bias above 0.7065/70 – UOB
The research team at UOB Group expects the pair to keep its positive stance above the 0.7065/70 area.
Key Quotes
“As highlighted several times in recent updates, the undertone for AUD is positive as long as above 0.7065/70 and a daily closing above 0.7200 would confirm the start of a bullish phase”.
“We have the confirmation overnight and from here, the immediate target is for a move to the late December high of 0.7325/30 (next resistance is at 0.7385)”.
“In order to maintain the current momentum, any pull-back should above 0.7170 but only a break below 0.7130 would indicate that our bullish view is wrong”.
Key Quotes
“As highlighted several times in recent updates, the undertone for AUD is positive as long as above 0.7065/70 and a daily closing above 0.7200 would confirm the start of a bullish phase”.
“We have the confirmation overnight and from here, the immediate target is for a move to the late December high of 0.7325/30 (next resistance is at 0.7385)”.
“In order to maintain the current momentum, any pull-back should above 0.7170 but only a break below 0.7130 would indicate that our bullish view is wrong”.