AUD/USD keeps the downward pressure below 0.7980/91 – Commerzbank

The Aussie Dollar should keep the downside pressure unchanged while below the 0.7980/91 band.

Key Quotes

“AUD/USD once again retested its mid-August high at .7963 but run out of steam slightly below the July 20 high at .7991. While the .7980/91 July 20 and August 4 highs cap downside pressure should be maintained”.

“Below the .7862/08 current August low and support line lies good support at .7797/41. It is where the February and March highs meet the 55 day moving average”.

“Above the .8065 level the .8162/66 May 2015 peak and 50% retracement can be seen. Above there lies the .8295 January 2015 high”.