FXStreet (Edinburgh) - Axel Rudolph, Senior Technical Analyst at Commerzbank, sees the likeliness of a visit to the mid-0.7100s, where sits the 55-day ma. Key Quotes “AUD/USD has finally registered a close above the .7017 November low”. “It remains upside corrective near term and the intraday Elliott wave counts are suggesting further strength to the 55 day ma at .7146”. “Above here we would allow for a return to .7221, the 78.6% retracement”. For more information, read our latest forex news.