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AUD/USD remains upside corrective – Commerzbank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 28, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    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”.
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