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Noticias de trading
5 May 2017
AUD/USD: Pullback is underway in short term, the pair could drift towards 0.73 - SocGen
Analysts at Societe Generale note that the AUD/USD tested the decadal channel support last year, since which it has been evolving within a large base formation in the form of an inverted head and shoulders.
Key Quotes
“The recovery in the pair has been faltering near 0.7730/0.7830, the 23.6% retracement from 2011 highs and the neckline of the aforementioned formation. Short term, a pullback is underway and the pair could drift towards 0.73, which happens to be the lower limit of a broad triangle. This should be a prominent support.”