18 Jun 2014
AUD/USD supported around 0.9300 – Commerzbank
FXStreet (Edinburgh) - In the opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, intraday pullbacks would initially find decent support around 0.9300.
Key Quotes
“AUD/USD has turned lower back into its range and remains reluctant to tackle the .9448/60 November 2013 and the April high”.
“Ideally intraday dips should be contained by the .9300 support line, however key support remains the .9203 support”.
“While above here scope for recovery remains. We have conflicting signals on our intraday charts and no strong bias at this stage”.
“Beyond .9460 we should see a move to .9523, the 78.6% retracement of the move down from October 2013.
Key Quotes
“AUD/USD has turned lower back into its range and remains reluctant to tackle the .9448/60 November 2013 and the April high”.
“Ideally intraday dips should be contained by the .9300 support line, however key support remains the .9203 support”.
“While above here scope for recovery remains. We have conflicting signals on our intraday charts and no strong bias at this stage”.
“Beyond .9460 we should see a move to .9523, the 78.6% retracement of the move down from October 2013.