AUD/USD still targets 0.6940 medium term – Commerzbank

FXStreet (Edinburgh) - In the view of Axel Rudolph, Senior Technical Analyst at Commerzbank, the Aussie dollar could test 0.6940 in the medium term.

Key Quotes

“AUD/USD found resistance below the .7250 resistance line. Key resistance remains at .7298/.7385 (Fibo retracement, 2014-2015 downtrend)”.

“We still look for a close below the .7068 late October low to trigger another leg lower. Medium term we continue to target the September low at .6940. Below it lies the .6905 recent low and also the .6774 2004 low”.

Nov 5, 2015

AUD/JPY: Bulls tighten grip, breaks above 87

The AUD/JPY cross was hit by a fresh bid-wave in the mid-European session, mainly driven by fresh sell-off in the yen against the US dollar.

US data this week has been dollar-supportive in G10 – SocGen

Kit Juckes, Research Analyst at Societe Generale, suggests that today we get Q3 labour costs, and weekly jobless claims figures as warm-up for tomorrow's jobs report, but the US data this week has clearly been dollar-supportive in G10, without causing much consternation in global equity markets or indeed, in most emerging market currencies.