AUD/USD 200D MA eroded - Commerzbank

FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank notes that AUD/USD has cleared tough resistance circa 0.9132/40 (the March high, the 2013-2014 resistance line and the 200 day moving average).

Key Quotes

“It also has also cleared the 0.9168 December high and this has opened the way to higher prices. A close above 0.9168 would imply a deeper rally to 0.9338, the 61.8% retracement and introduced scope to 0.9448, the November high.”

“Dips need to break the support line at .9006 and the second support line at 0.8955 in order to alleviate upside pressure.”