29 Oct 2013
Flash: AUD/USD 2 month uptrend eroded – Commerzbank
FXstreet.com (Athens) – Karen Jones Head Technical Analyst of Commerzbank, mentions that the AUD/USD has severed its 2 month uptrend, and the .9543/23.6% retracement of the move up from August.
Key Quotes
“The market has recently charted a key day reversal from the 200 day moving average at .9730 and is exposed on the downside for losses towards the 38.2% retracement at .9410 and then the 55 day ma at .9320.”
“Intraday rallies are expected to struggle at .9575 and should ideally be contained by .9630.”
Key Quotes
“The market has recently charted a key day reversal from the 200 day moving average at .9730 and is exposed on the downside for losses towards the 38.2% retracement at .9410 and then the 55 day ma at .9320.”
“Intraday rallies are expected to struggle at .9575 and should ideally be contained by .9630.”