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AUD/USD room for a squeeze higher? – Commerzbank

FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, sees the likeliness of the spot testing the 0.7367/0.7439 area prior to failure.

Key Quotes

AUD/USD no change – looking for overall failure, but suspect that we are likely to see a retest of the .7367/.7439 region first”.

“The market last week tested and is showing signs of initial failure at resistance offered by the .7385 Fibo retracement, .7367 2014-2015 downtrend and the .7439 August high. We look for this to provoke failure”.

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