AUD/USD: Scope for a slump below the 0.74 mark – Commerzbank
|The AUD/USD pair has eroded the 0.7675 pivot as dollar strengthens across the board. Karen Jones, expects the aussie to fall, potentially to the 0.7394 December 2018 high.
Aussie erodes pivot at 0.7675
“AUD/USD has eroded its near-term pivot at 0.7675 (low 4th May), and failure here flips the chart to more negative territory.”
“We would allow for a slide to 0.7533 the April low and the 200-day ma at 0.7534.”
“Below 0.7533 lies 0.7413/0.7394, the September 2020 high and the December 2018 high.”
“Rallies will find initial resistance at 0.7772, the 2nd June high ahead of 0.7891, the 10th May 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.