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3 Sep 2015
AUD/USD gains could struggle around 0.7259 – Commerzbank
FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, sees the pair facing strong resistance around 0.7259.
Key Quotes
“AUD/USD continues to probe the psychological support at .7000, it has traded through this level but has yet to register a close below here, and held the .6980 3 month support line”.
“This guards the .6776 June 2004 low. We note the TD perfected set up on the 240 minute chart and would allow for a small rebound very near term”.
“Rallies are expected to struggle at .7205 (last weeks high) and are likely to remain contained by the .7259 4 month downtrend”.
Key Quotes
“AUD/USD continues to probe the psychological support at .7000, it has traded through this level but has yet to register a close below here, and held the .6980 3 month support line”.
“This guards the .6776 June 2004 low. We note the TD perfected set up on the 240 minute chart and would allow for a small rebound very near term”.
“Rallies are expected to struggle at .7205 (last weeks high) and are likely to remain contained by the .7259 4 month downtrend”.