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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 - Challenging its Recent Low at 0.7626

AUD/USD has broken the support at 0.7734 (05/02/2015 low), confirming increasing selling pressures. Monitor the test of the key support at 0.7626. An hourly resistance lies at 0.7749 (intraday high), while a key resistance stands at 0.7876 (06/02/2015 high).

In the long-term, there is no sign to suggest the end of the current downtrend. The break of the strong support area between 0.8067 (25/05/2010 low) and 0.7947 (61.8% retracement of the 2009-2011 rise) favours further weakness. A key support stands at 0.7451 (18/05/2009 low). A break of the key resistance at 0.8295 (15/01/2015 high) is needed

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