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AUD/USD bearish stance unchanged – Commerzbank

FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, notes the bearishness persists around the pair.

Key Quotes

AUD/USD held steady yesterday – we maintain our bearish bias”.

“We look for losses to the .9203/.9181 May low and 200 day ma. We also find the 55 week ma in this vicinity at .9201 and the 32.8%retracement at .9182. These represent major break down points short term and we suspect that they will hold the initial test”.

“Rallies will find good interim resistance at .9290/.9330”.

“Risks will remain on the downside while capped by the .9475 recent high”.

“Longer term failure at .9182 will trigger the start of a move to .8891, the March low”.

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