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AUD/USD: a correction lower is likely – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 22, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The Aussie dollar risks a pullback to the 0.7520/0.7415 area, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank.

    Key Quotes

    AUD/USD is easing back from the 61.8% retracement at 0.7650/52 and we notice the 13 count on the daily chart and some caution is necessary, we would allow for some near term weakness”.

    “The intraday Elliott count is suggesting a retracement to .7520/.7415”.
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