27 Oct 2015
AUD/USD could test 0.6940 medium term – Commerzbank
FXStreet (Edinburgh) - According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair could slip towards the 0.6940 area in the medium term.
Key Quotes
“AUD/USD continues to hold over the 55 day ma at 0.7167, but the rebound from here remains pretty tepid”.
“Rallies are indicated to fail intraday circa .7300 for a slide below the 55 day ma to the base of the short term channel at .7051”.
“Medium term we continue to target the September low at .6940. Below it lies the .6905 recent low and also the .6774 2004 low”.
Key Quotes
“AUD/USD continues to hold over the 55 day ma at 0.7167, but the rebound from here remains pretty tepid”.
“Rallies are indicated to fail intraday circa .7300 for a slide below the 55 day ma to the base of the short term channel at .7051”.
“Medium term we continue to target the September low at .6940. Below it lies the .6905 recent low and also the .6774 2004 low”.