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2 Sep 2015
AUD/USD remains directly offered; eyes 0.7000 - CB
FXStreet (Guatemala) - Karen Jones, chief analyst at Commerzbank explained that AUD/USD remains directly offered and is probing the psychological support at 0.7000.
Key Quotes:
"It has so far tested and held the 0.6988 3-month support line. This guards the 0.6776 June 2004 low."
"Rallies are expected to struggle at .7205 (last weeks high) and 0.7271 (the 4 month downtrend) but will need to overcome the 0.7448 July 21 high and the 0.7416 55 day moving average to negate downside pressure."
Key Quotes:
"It has so far tested and held the 0.6988 3-month support line. This guards the 0.6776 June 2004 low."
"Rallies are expected to struggle at .7205 (last weeks high) and 0.7271 (the 4 month downtrend) but will need to overcome the 0.7448 July 21 high and the 0.7416 55 day moving average to negate downside pressure."