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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: Validates Double-Bottom Formation

AUD/USD has violated 0.9345, and validate a short-term double-bottom formation with a target at 0.9450. Another resistance lies at 0.9374. An hourly support can be found at 0.9272 (26/08/2014 low).

In the longer term, prices are consolidating within the range defined by the key support at 0.9206 (see also the 200 day moving average) and the key resistance at 0.9461 (10/04/2014 high)/0.9505. The current succession of lower highs since early July 2014 favours a bearish bias.

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