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AUD/USD could see a small bounce to 0.71 – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 11, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, sees spot squeezing higher to the 0.7050/0.7100 area ahead of another leg lower.

    Key Quotes

    AUD/USD sold off throughout the week and attention is on the September low at .6905”.

    “We note the 13 count and divergence of the 240 minute RSI on the 240 minute chart and would allow for a small rebound to .7050/.7100 ahead of further losses”.

    “Risks are on the downside longer term and we target the .6774 2004 low”.
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