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AUD/USD negative below 0.7186/0.7230 – Commerzbank

FXStreet (Edinburgh) - According to Karen Jones, Head of FICC Technical Analyst at Commerzbank, the stance of the Aussie dollar remains negative below the 0.7186/0.7230 band.

Key Quotes

AUD/USD continues to rebound. The market has divergence on the weekly and monthly RSI”.

“It suggests a further small rebound near term towards its 55 day ma at .7186 and possibly the base of the cloud at .7230, but while capped here the market remains overall negative”.

“The intraday Elliott count is suggesting scope to test the 55 day ma ahead of further weakness”.

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