AUD/USD bullish above 0.7547 – Commerzbank
|In view of Karen Jones, Head of Technical Analysis at Commerzbank, the stance on AUD/USD remains bid while above 0.7547.
Key Quotes
“The market has is under pressure in its range having again failed at the .7731 September highs, intraday Elliott wave counts are now contradictory and we revert to neutral. Above .7730/60 would introduce scope to the .7836 April high and this remains viable. It remains bid while above the five month support line at .7547”.
“Below the 5 month support line lies the 2016 uptrend line at .7526. Further down lies the September low at .7443 and the 200 day moving average at .7477. This remains a critical break down point to the .7146 May low”.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.