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MIG Bank

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 - Monitor The Resistance at 0.8372

AUD/USD is bouncing. However, the hourly resistance at 0.8372 (see also the steepest declining trendline) has held thus far. Hourly supports can be found at 0.8265 (10/12/2014 low) and 0.8224. A key resistance lies at 0.8447 (see also the 38.2% retracement).

In the long-term, the break of the strong support at 0.8660 (24/01/2014 low) confirms the underlying long-term bearish trend and opens the way for further weakness. A strong support area stands between 0.8067 (25/05/2010 low) and 0.7947 (61.8% retracement of the 2009-2011 rise). A key resistance can be found at 0.8615 (27/11/2014 high).

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