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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 - Bullish Momentum

AUD/USD has broken resistance implied by the upper bound of the declining channel. The technical structure suggests a deeper short-term momentum. Hourly support lies at 0.7017 (08/11/2015 low) and hourly resistance is located at 0.7382 (12/10/2015 high). Expected to show increasing buying interest.

In the long-term, we are waiting for further signs that the current downtrend is ending. Key supports stand at 0.6009 (31/10/2008 low) . A break of the key resistance at 0.8295 (15/01/2015 high) is needed to invalidate our long-term bearish view. In addition, we still note that the pair remains well below the 200-dma which confirms selling pressures.

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