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Oct 7, 2015
AUD/USD could visit the 0.7230 level – Commerzbank
FXStreet (Edinburgh) - According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair could attempt to reach the 0.7230 level.
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 .7183 and possibly the base of the cloud at .7230, but while capped here, it remains overall negative”.
“Medium term we continue to target the September low at .6940. Below it lies the .6905 recent low and also the .6774 2004 low”.
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 .7183 and possibly the base of the cloud at .7230, but while capped here, it remains overall negative”.
“Medium term we continue to target the September low at .6940. Below it lies the .6905 recent low and also the .6774 2004 low”.