EUR To Gain Further Vs USD, GBP; AUD/USD Holds 50d MA
eFXnews | Mar 26, 2015 02:00AM ET
"While the immediate picture for EUR is not exactly clear, we could pull back to 2wk trendline support at 1.0763 before resuming upwards to 1.1098/1.1188 before forming a larger top and resuming the long term downtrend," BofA projects.
"Watch the micro-term range between 1.1027/1.0898 for direction," BofA advises.
In contrast, BofA notes that EUR/GBP continues its stair step higher towards 0.7405/0.7429.
"Into here we look for signs of topping, but it would take an impulsive break of 0.7304/0.7295 before we could say that the larger bear trend is resuming," BofA adds.
Finally, BofA remain bullish on the AUD/USD.
"With the 50d avg (now 0.7825) turning from medium term resistance to new support, we look for further gains towards 0.8264/0.8296 before renewed topping," BofA projects.
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