AUD/USD: outlook calls for caution – Commerzbank

Karen Jones, Head of FICC Technical Analysis at Commerzbank, remains cautious in light of the recent performance of the Aussie dollar.

Key Quotes

“AUD/USD’s recent high of .7722 has been accompanied by a divergence of the daily RSI and has yet to see a close above the .7680 previous high. We are now extremely cautious”.

“We await a close above .7680 (18th March high) to trigger gains to .7850 (38.2% retracement of move down from 2014) and the .8030/50 target engage (base measurement)”.