AUD/USD: rallies could struggle at 0.7680 – Commerzbank

In opinion of Axel Rudolph, Senior Technical Analyst at Commerzbank, occasional bullish attempts of the pair could run out of steam around 0.7680.

Key Quotes

“AUD/USD slipped to the 2016 uptrend line at .7550 which looks to be under pressure”.

“Intraday rallies should terminate at .7680, the mid-March high, and we look for losses to .7477, the late March low, and then .7416 (16th March low)”.

“The October and November highs lie at .7384/81. Interim resistance lies at .7717 ahead of the .7836/50 area”.