AUD/USD could reach 0.7229 – Commerzbank

FXStreet (Edinburgh) - In the opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the Aussie dollar could test 0.7229 vs. the dollar.

Key Quotes

“AUD/USD has cleared its near term resistance line at .7114 and in doing so alleviates downside pressure and implies recovery to the .7229 2014-2015 downtrend”.

“Very near term the rally has reached the cloud resistance at .7175 and this may hold the initial test, dips lower should find immediate support at .7135”.