26 Nov 2013
Flash: AUD/USD consolidating ahead of further losses - Commerzbank
FXstreet.com (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank notes that AUD/USD is consolidating very near term.
Key Quotes
“AUD/USD is consolidating very near term ahead of further losses and we continue to regard last weeks high at 0.9449 as an interim peak and we look for losses to 0.9034, the 78.6% Fibonacci retracement of the same move.”
“This is the last defence for the 0.8848 August low and 0.8750, the base of a 2 year down channel. We note the 13 count on the 240 minute chart and the TD support at 5.9130. Intraday charts are suggesting rallies towards 0.9215/80 will be met with more selling.”
Key Quotes
“AUD/USD is consolidating very near term ahead of further losses and we continue to regard last weeks high at 0.9449 as an interim peak and we look for losses to 0.9034, the 78.6% Fibonacci retracement of the same move.”
“This is the last defence for the 0.8848 August low and 0.8750, the base of a 2 year down channel. We note the 13 count on the 240 minute chart and the TD support at 5.9130. Intraday charts are suggesting rallies towards 0.9215/80 will be met with more selling.”