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2 Feb 2015
AUD/USD key levels under bearish pressure - Commerzbank
FXStreet (Guatemala) - Karen Jones, chief analyst at Commerzbank noted that the AUD/USD last week sold off to its 0.7780 200 month moving
average.
Key Quotes:
"Here we also find the retracement at 0.7704 (2/3rd retracement) and the base of its 4 month down channel is 0.7602 and it is possible that will see this hold the initial test for a small rebound."
"Initial resistance is 0.8034 (7th Jan low), then 0.8044 (20 day ma). Key resistance is the 0.8155 downtrend. A close above here is needed to alleviate the bearish pressure."
average.
Key Quotes:
"Here we also find the retracement at 0.7704 (2/3rd retracement) and the base of its 4 month down channel is 0.7602 and it is possible that will see this hold the initial test for a small rebound."
"Initial resistance is 0.8034 (7th Jan low), then 0.8044 (20 day ma). Key resistance is the 0.8155 downtrend. A close above here is needed to alleviate the bearish pressure."