Flash: AUD/USD is heading back up towards the .9525 September high – Commerzbank

FXstreet.com (Athens) – Karen Jones, Head Technical Analyst at Commerzbank that the AUD/USD remains capable of re-challenging its initial resistance at .9510/25, made up of the 38.2% Fibonacci retracement and the September peak.

Key Quotes

“A slide below the .9390 October 10 low is needed to alleviate immediate upside pressure and to trigger a retest of another 38.2% Fibonacci retracement support level at .9283.”

“A rise above the .9525 September high will target the .9580 May 2012 low and then the .9665 June high.”