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AUD/USD could reach 0.7229 – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 19, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - In the opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the Aussie dollar could test 0.7229 vs. the dollar.

    Key Quotes

    AUD/USD has cleared its near term resistance line at .7114 and in doing so alleviates downside pressure and implies recovery to the .7229 2014-2015 downtrend”.

    “Very near term the rally has reached the cloud resistance at .7175 and this may hold the initial test, dips lower should find immediate support at .7135”.
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