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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 - Riding Uptrend Channel

AUD/USD is clearly in a bullish trend. Hourly resistance at at 0.7545 (04/07/2016 high) has been broken. Hourly support is located at 0.7408 (06/07/2016 low). Stronger supports are given by the lower bound of the longer-term uptrend channel and by 0.7145 (24/05/2016 low).

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.

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