AUD/USD to target the end of February high at 0.8007 above 0.7849 – Commerzbank
|AUD/USD stays bid above trendline support at 0.7665. Once the 0.7849 mid-March high is cleared, the aussie is set to test the end of February high at 0.8007, as reported by Commerzbank.
See: AUD/USD has the 0.80 mark within its reach – Westpac
Longer-term, the 0.8135 2018 high is in play
“AUD/USD continues to consolidate below the recent highs at 0.7815/49.”
“Dips are indicated to remain shallow and the market should remain underpinned by the 0.7665 support line.”
“Above 0.7849 targets the end of February high at 0.8007. Longer-term, the 0.8135 2018 high is in play. The 200-month ma lies at 0.8263.”
“Trendline support protects the 0.7533 April low.”
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