10 Nov 2015
AUD/USD points to further decline – Commerzbank
FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, sees the Aussie dollar grind lower in the next medium term.
Key Quotes
“AUD/USD no change – the market recently charted a daily and weekly close below .7097 channel support and in doing so completed a bearish continuation pattern”.
“The move on Friday also closed below the .7068 late October low – this is negative”.
“Medium term we continue to target the September low at .6940. Below it lies the .6905 recent low and also the .6774 2004 low”.
Key Quotes
“AUD/USD no change – the market recently charted a daily and weekly close below .7097 channel support and in doing so completed a bearish continuation pattern”.
“The move on Friday also closed below the .7068 late October low – this is negative”.
“Medium term we continue to target the September low at .6940. Below it lies the .6905 recent low and also the .6774 2004 low”.