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AUD/USD points to further decline – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 10, 2015.

  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 the Aussie dollar grind lower in the next medium term.

    Key Quotes

    AUD/USD no change – the market recently charted a daily and weekly close below .7097 channel support and in doing so completed a bearish continuation pattern”.

    “The move on Friday also closed below the .7068 late October low – this is negative”.

    “Medium term we continue to target the September low at .6940. Below it lies the .6905 recent low and also the .6774 2004 low”.
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