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8 Jan 2015
AUD/USD: 0.80 is a key support – SG
FXStreet (Barcelona) - Analysts at Societe Generale, believe that the support at 0.80 will be a key levels for the day as a break below this might lead to an extended correction for the AUD/USD pair.
Key Quotes
“AUD/USD broke below a multiyear channel and has achieved our advocated target of 0.8060/0.80, 2010 lows. Monthly RSI is testing a multiyear graphical floor suggesting 0.80 as a key level. Only a decisive close below will indicate possibility to extend the correction. For the day, 0.80 will remain a key level.”
Key Quotes
“AUD/USD broke below a multiyear channel and has achieved our advocated target of 0.8060/0.80, 2010 lows. Monthly RSI is testing a multiyear graphical floor suggesting 0.80 as a key level. Only a decisive close below will indicate possibility to extend the correction. For the day, 0.80 will remain a key level.”