21 Jul 2015
AUD/USD bearish below 0.7563 – Commerzbank
FXStreet (Edinburgh) - In the view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair’s outlook remain negative below the downtrend at 0.7563.
Key Quotes
“AUD/USD yesterdays low at .7329 has yet to be confirmed by the daily RSI, but we suspect corrective rebounds will be fairly tiny”.
“The outlook stays negative while below the .7563 downtrend. We continue to look for losses to the base of the 2 year channel at .7204 longer term”.
“Rallies will find initial resistance at .7526, the 23.6% retracement and should ideally remain contained by the .7563 short term resistance line to remain directly offered”.
Key Quotes
“AUD/USD yesterdays low at .7329 has yet to be confirmed by the daily RSI, but we suspect corrective rebounds will be fairly tiny”.
“The outlook stays negative while below the .7563 downtrend. We continue to look for losses to the base of the 2 year channel at .7204 longer term”.
“Rallies will find initial resistance at .7526, the 23.6% retracement and should ideally remain contained by the .7563 short term resistance line to remain directly offered”.