20 Feb 2015
AUD/USD: 0.8034 is key to alleviate downside pressure - CB
FXStreet (Guatemala) - Karen Jones, chief analyst at Commerzbank explained that AUD/USD continues to hold sideways to higher near term.
Key Quotes:
"The market recently again held over the base of the 2013-2015 down channel at 0.7597."
"Above the 20 day ma lies the downtrend at 0.7990 and the 7th Jan low at 0.8034."
"A close above here is needed to alleviate downside pressure."
"Below 0.7597 we have very little support apart from the 0.7335, 50% retracement of the move up from 2001."
Key Quotes:
"The market recently again held over the base of the 2013-2015 down channel at 0.7597."
"Above the 20 day ma lies the downtrend at 0.7990 and the 7th Jan low at 0.8034."
"A close above here is needed to alleviate downside pressure."
"Below 0.7597 we have very little support apart from the 0.7335, 50% retracement of the move up from 2001."