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AUD/USD bearish below 0.7017 – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 29, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the Aussie dollar faces further downside pressure below 0.7017.

    Key Quotes

    AUD/USD has failed ahead of the 200 day ma at .7264 and sold off to the near term support line at .7101, which is now exposed”.

    “Initial support lies at .7070 (19th Feb low) but we need a close below the .7017 low charted in November in order to reassert downside pressure t the .6828 mid January low”.
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