30 Apr 2014
AUD/USD bullish above 0.9324 – Commerzbank
FXStreet (Edinburgh) - According to Karen Jones, Head of FICC Technical Analysis, a surpass of 0.9324/29 could lift the AUD/USD to 0.9378 and 0.9460.
Key Quotes
“AUD/USD has sold off towards and recovered ahead of its uptrend at .9211 - the possible ‘a-b-c’ correction lower remains intact and the recovery from the trendline adds weight to that view”.
“In order to alleviate immediate downside pressure the market will have to overcome the 20 day ma at .9324 and short term downtrend at .9329 as an absolute minimum”.
“This will trigger a recovery to the .9378 and .9460 recent highs”.
Key Quotes
“AUD/USD has sold off towards and recovered ahead of its uptrend at .9211 - the possible ‘a-b-c’ correction lower remains intact and the recovery from the trendline adds weight to that view”.
“In order to alleviate immediate downside pressure the market will have to overcome the 20 day ma at .9324 and short term downtrend at .9329 as an absolute minimum”.
“This will trigger a recovery to the .9378 and .9460 recent highs”.