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MIG Bank

MIG Bank

MIG BANK, formerly known as MIG INVESTMENTS, was established in Neuchatel, Switzerland as an online Forex broker and in 2009 became the world's 1st Forex…

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AUD/USD: Running Out of Steam

AUD/USD has broken the support at 0.9317 (see also the rising trendline), confirming a deterioration of the technical structure. A further decline towards the key support at 0.9206 is expected. Hourly resistances can now be found at 0.9336 (intraday high) and 0.9377 (19/05/2014 high).

In the medium-term, the successful test of the key resistance at 0.9448 (20/11/2013 high) and the break of the rising trendline suggest the end of the phase of AUD appreciation. A break of the key support at 0.9206 would confirm such scenario.

The recent weakness has forced us to close the remaining of our long strategy.

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