May 17, 2013
Flash: AUD/USD further losses to come – Commerzbank
FXstreet.com (London) - The technical analysis team at Commerzbank had an initial target of 0.9871/62 for the pair. This is the location of the 200 week ma and the 2011-2013 uptrend, and they are now looking for further losses. They said that rallies will find initial resistance at 0.9934/1.0020 and are expected to find that the previous range lows at 1.0100/16 to offer good interim resistance.