26 Sep 2013
Flash: AUD/USD slowly drifts back towards the July high at 0.91318 - Commerzbank
FXstreet.com (Athens) – Karen Jones, Head Technical Analyst at Commerzbank suggests that the AUD/USD continues to slide back towards the 0.9318 July high.
Key Quotes
“While it is likely to consolidate here, it needs to hold over the 0.9318 level. Failure here will imply a loss of momentum and potential for a slide back to the 0.9233 August high, then 0.9160 55 day ma.”
“Immediate resistance is the 0.9580 May 2012 low and then the 0.9665 June high and the 0.9715 50% retracement of the move down from April.”
Key Quotes
“While it is likely to consolidate here, it needs to hold over the 0.9318 level. Failure here will imply a loss of momentum and potential for a slide back to the 0.9233 August high, then 0.9160 55 day ma.”
“Immediate resistance is the 0.9580 May 2012 low and then the 0.9665 June high and the 0.9715 50% retracement of the move down from April.”