Flash: AUD/USD bearish below 0.9079/86 – Commerzbank

FXStreet (Edinburgh) - According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the AUD/USD’s stance would remain bearish as long as market is below the 0.9079/86 band.

Key Quotes

“The market retains a negative bias while capped by the 9079/86 resistance, (the January high and 38.2% retracement of the move down from the end of October)”.

“We look for intraday rallies to terminate ahead of .9008”.

“Only above .9086 would introduce scope to the 200 day ma at .9184, and the .9228 2013-2014 resistance line”.