Apr 19, 2013
Forex Flash: AUD/USD negative outlook towards 1.0204/16 and 1.0116 – Commerzbank
FXstreet.com (Barcelona) - The AUD/USD left “the outlook negative following its recent ‘return to point of break out’ ( i.e retested the previous channel). This together with the 200 day ma offers resistance at 1.0398/1.0431”, according to Commerzbank analysts, expecting a directly offered market while capped there. “We should see a slide to 1.0204/16, the 11th March low and 78.6% retracement en route to the 1.0116 recent low. The 1.0116/00 represents the bottom of a 9 month range and break down from here will be significant”, wrote analyst Karen Jones, targeting the 0.9840/27 zone – the 2011-2013 support line and the 200 week ma longer term.