Currency Analyst since 2010

SEB: AUD/USD trade

Analysts at SEB expect AUD/USD to slide to $1.9175 and then turn up. The specialists cite the wave structure, the spring bottom and the daily MACD bullish divergence as the reasons for their positive short-term view on Aussie.

On H1 the pair has reached 161.8% Fibo projection point for the wave 3 and is now correcting. SEB thinks that this correction will stop in the middle of yesterday’s rising candle. The bank has set bullish target at $0.9306/45.

Chart. H1 AUD/USD

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