STO Technical - AUD/USD resumes up trend

Friday, 24/02/2017 | 09:07 GMT

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The ascending triangle that has been established for AUD/USD is falling back into place and the pair is now threatening a test of year to date highs. If this falls around 0.7735, look for a move up to 2015 highs at 0.7785 the 23.8% retracement of the 2011-2015 sell-off around 0.7850.

EUR/JPY continues to edge lower with the 38.2% retracement of the rally from last year providing meaningful support for now. If we see this broken at the 119 level, look for a move down to the 200 day moving average currently around 117.5.

This article comprises the personal view and opinion of the STO Investment Research Desk and at no time should be construed as Investment Advice.

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