AUD/USD could try to consolidate – Commerzbank

Pablo Piovano FXStreet

AUD/USD could attempt to consolidate near the top of the channel, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank.

Key Quotes

“We note the 13 count on the 240 minute chart and we may see some consolidation. Very near term we would allow for some slippage to the 200 day ma at .7528. Above .7635 will target the top of the triangle at .7714. The market is expected to find support at the 200 day ma at 0.7528 and the 55 day ma at .7492”.

“Above .7589 should trigger a move to the top of the triangle at .7716”.

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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