|

AUD/USD faces key resistance around 0.7900 – Commerzbank

Occasional upticks in AUD/USD should find near term resistance in the 0.7900 area, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank.

Key Quotes

AUD/USD is side lined above Fibo support and the recent low at 0.7633/25. The corrective rebound has been fairly tepid so far to leave these supports still exposed. Failure here targets the 2016-2017 uptrend line at .7472”.

“Key near term resistance remains mid October high at .7896 – its stays immediately negative below here. Initial resistance is the near term downtrend at .7728”.

“Above the .8162 May 2015 peak lies the .8295 January 2015 high”.

Author

Pablo Piovano

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

More from Pablo Piovano
Share:

Editor's Picks

EUR/USD holds steady above 1.1850 as markets eye Eurozone GDP, US CPI inflation releases

The EUR/USD pair trades on a flat note near 1.1870 during the early Asian session on Friday. The major pair steadies amid mixed signals from the latest release of US economic indicators. Traders await the preliminary reading of the Eurozone Gross Domestic Product for the fourth quarter and US inflation data, which are published later on Friday.  

GBP/USD consolidates around 1.3600 vs. USD; looks to US CPI for fresh impetus

The GBP/USD pair remains on the defensive through the Asian session on Friday, though it lacks bearish conviction and holds above the 1.3600 mark as traders await the release of the US consumer inflation figures before placing directional bets.

Gold: Will US CPI data trigger a range breakout?

Gold retakes $5,000 early Friday amid a turnaround from weekly lows as US CPI data loom. The US Dollar consolidates weekly losses as AI concerns-driven risk-off mood stalls downside. Technically, Gold appears primed for a big range breakout, with risks skewed toward a bullish break.

Top Crypto Gainers: River faces resistance, Humanity Protocol steadies, Polygon rebounds

Altcoins, including River, Humanity Protocol and Polygon, rank as top-performing cryptocurrencies in the last 24 hours, defying the broader market pullback as Bitcoin dropped below $67,000.

A tale of two labour markets: Headline strength masks underlying weakness

Undoubtedly, yesterday’s delayed US January jobs report delivered a strong headline – one that surpassed most estimates. However, optimism quickly faded amid sobering benchmark revisions.

Aster Price Forecast: Demand sparks on Binance Wallet partnership for on-chain perpetuals

Aster is up roughly 9% so far on Thursday, hinting at the breakout of a crucial resistance level. Aster partners up with Binance wallet for the second season of the on-chain perpetuals challenge.