AUD/USD offered below 0.7532 – Commerzbank

Pablo Piovano FXStreet

The outlook on the Aussie Dollar should stay offered while below the key 20-day sma in the 0.7530 region, noted Karen Jones, Head of FICC Technical Analysis at Commerzbank.

Key Quotes

“The market was last week rejected by the 200 day ma at .7532 and while capped here will remain directly offered. Loss of the 55 day ma at .7425 on a closing basis will add weight to that view and retarget the bottom of the converging range at .7315”.

“It is side lined within the .7315-.7720 limits”.

“Above the 200 day ma should trigger a move to the top of the triangle at .7720”.

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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