28 Apr 2015
AUD/USD bulls yet to convince - CB
FXStreet (Guatemala) - Karen Jones, chief analyst at Commerzbank noted the strength of the Aussie and explained the key conditions surrounding AUD/USD.
Key Quotes:
"Key resistance is regarded as the 0.8034 early January low and a close above here is needed to negate medium term downside pressure."
"Below 0.7534 lies the two month support line at 0.7475. Once it has given way, the October 2006 low at 0.7416 will be in focus, followed by the 0.7369 July 2005 low. Longer term the 61.8% Fibonacci retracement of the 2001-11 advance at 0.7180 could also be reached."
Key Quotes:
"Key resistance is regarded as the 0.8034 early January low and a close above here is needed to negate medium term downside pressure."
"Below 0.7534 lies the two month support line at 0.7475. Once it has given way, the October 2006 low at 0.7416 will be in focus, followed by the 0.7369 July 2005 low. Longer term the 61.8% Fibonacci retracement of the 2001-11 advance at 0.7180 could also be reached."