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25 Feb 2015
SEB: AUD/USD confirming the double bottom – eFXnews
FXStreet (Barcelona) - The eFXnews Team shares SEB’s intraday technical outlook for AUD/USD, with the pair confirming the double bottom, a move above 0.7898 will open 0.8034/0.8066 levels.
Key Quotes
“Underpinned by rising metals prices commodity currencies has jumped higher overnight. AUD/USD has violated 0.7877, the confirmation point for a double bottom formation so there should be more room for the pair to rise near term.”
“The next important ref is 0.7898 (if the double bottom fails the pair will turn here) but breaking above 0.7898 will further enhance a double bottom base and accordingly a continued ascent to January breakout area 0.8034/0.8066.”
This content has been provided under specific arrangement with eFXnews.
Key Quotes
“Underpinned by rising metals prices commodity currencies has jumped higher overnight. AUD/USD has violated 0.7877, the confirmation point for a double bottom formation so there should be more room for the pair to rise near term.”
“The next important ref is 0.7898 (if the double bottom fails the pair will turn here) but breaking above 0.7898 will further enhance a double bottom base and accordingly a continued ascent to January breakout area 0.8034/0.8066.”
This content has been provided under specific arrangement with eFXnews.