AUD/USD could rebound to 0.7630/0.7700 – Commerzbank
|In opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the Aussie Dollar could extend the rebound to the 0.7630/0.7700 band.
Key Quotes
“AUD/USD has recently based at .7413 and has eroded the 38.2% retracement at .7568. This has completed a small base and we would allow for a deeper corrective phase to .7630/.7700. The March low is at .7643”.
“Below .7413 lie the next lower May 2017 lows at .7373/.7330. Longer term we look for a move to the 2001-2018 uptrend line at .7156”.
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.