19 Jan 2015
AUD/USD failure at 0.8271 could allow a test of 0.8145 – Commerzbank
FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, sees the likeliness of AUD/USD to re-test the mid-0.8100s.
Key Quotes
“AUD/USD last week challenged the 5 month downtrend, but failed to close above here, and appears to be back under pressure”.
“This is now located at .8271 and while capped here the short term risk is that we will see a retest of the 55 day ma at .8145 and the recent low at .8034 retested, and scope for the long term double Fibonacci support at .7950/30”.
Key Quotes
“AUD/USD last week challenged the 5 month downtrend, but failed to close above here, and appears to be back under pressure”.
“This is now located at .8271 and while capped here the short term risk is that we will see a retest of the 55 day ma at .8145 and the recent low at .8034 retested, and scope for the long term double Fibonacci support at .7950/30”.