8 Apr 2015
AUD/USD bearish below Feb/Mar highs - CB
FXStreet (Guatemala) - Technically, Karen Jones, chief analyst at Commerzbank explained the technical conditions surrounding the AUD/USD’s longer term.
Key Quotes:
"Longer term the 61.8% Fibonacci retracement of the 2001-11 advance at .7184 could also be reached."
"We will retain our bearish forecast while the February and March highs at 0.7912/38 cap on a daily chart closing basis."
"A daily close above the 0.8034 early January low is needed to alleviate medium term downside pressure."
Key Quotes:
"Longer term the 61.8% Fibonacci retracement of the 2001-11 advance at .7184 could also be reached."
"We will retain our bearish forecast while the February and March highs at 0.7912/38 cap on a daily chart closing basis."
"A daily close above the 0.8034 early January low is needed to alleviate medium term downside pressure."