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AUD/USD: outlook calls for caution – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 1, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    Karen Jones, Head of FICC Technical Analysis at Commerzbank, remains cautious in light of the recent performance of the Aussie dollar.

    Key Quotes

    AUD/USD’s recent high of .7722 has been accompanied by a divergence of the daily RSI and has yet to see a close above the .7680 previous high. We are now extremely cautious”.

    “We await a close above .7680 (18th March high) to trigger gains to .7850 (38.2% retracement of move down from 2014) and the .8030/50 target engage (base measurement)”.
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