AUD/USD could test the 0.7760 area – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 16, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the Aussie dollar could see its upside renewed and attempt a test of 0.7760.

    Key Quotes

    “AUD/USD continues to ease lower very near term from the recent .7593 high, by this has been accompanied by a TD perfected set up and, for now, the daily Elliott wave is indicating dips to .7355/.7285 are likely near term, but should hold there and recover”.

    “Currently if we assume that AUD/USD has based the measurement higher extends to .7760”.

    “Note the intraday elliott wave count suggests that the market should recover from current levels and we will reattempt long positions”.
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