AUD/USD poised to encounter the 55-week ma at 0.7860 - Commerzbank

In the view of Karen Jones, Analyst at Commerzbank, the AUD/USD pair is set to test the key 55-week MA at 0.7860 this week.

Key Quotes:

“AUD/USD is poised to encounter the 55-week ma at .7860 and we note the TD perfected set up on the daily chart and the 13 count on the 240-minute chart. We look for initial failure here and will attempt small short positions.”

“Above here lies the .7896 13th October high and then .8000/.78.6% retracement.“