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AUD/USD could re-visit 0.7385 – Commerzbank

FXStreet (Edinburgh) - In the view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the Aussie dollar could rebound towards the 0.7385 level vs. the greenback.

Key Quotes

AUD/USD has sold off to and recovered off the 55 day ma at .7184. We would allow for a retest of the .7385 Fibo retracement, and directly above here we find .7402 2014-2015 downtrend and the .7439 August high. We look for this to provoke failure”.

“Medium term we continue to target the September low at .6940. Below it lies the .6905 recent low and also the .6774 2004 low”.

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