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AUD/USD could test 0.6940 – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 7, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the Aussie dollar could slip to the 0.6940 area.

    Key Quotes

    AUD/USD has eroded its channel support and the .7098 recent low, and we would allow for further losses to the .7017 November low and the September low at .6940. Very near term we note the 13 count on the 240 minute chart, but rallies are indicated to terminate circa .7105/45”.

    “Further resistance is offered by the 55 day ma at .7194. Key near term resistance lies at .7381/85, the October high and the 38.2% retracement and the .7403 200 day ma. While capped here the market will remain directly offered”.
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