AUD/USD: Next target is the 0.7820 January high – Commerzbank
|The AUD/USD pair is breaking higher from its consolidation pattern and sees next resistance at the 0.7820 January high, Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, reports.
Key quotes
“AUD/USD is breaking higher from its consolidation pattern and attention is now on the 0.7820 January high. It is underpinned by the 55-day ma at 0.7626 and key support is the 2020-2021 support line at 0.7619.”
“Above the market we have TD resistance at 0.7925 which, if reached is likely to hold the initial test. The 0.7925 level is seen as the barrier to the 2018 peak at 0.8135.”
“Below 0.7560 (last weeks low) will trigger a slide to 0.7463 December 21 low and also the 0.7413 September high and the 0.7340 November 9 high.”
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.