AUD/USD offered below 0.7677/98 – Commerzbank

Pablo Piovano FXStreet

AUD/USD should remain offered while below the 0.7677/98 band, according to Karen Jones, Head of FICC Technical Analysis at Commerzbank.

Key Quotes

“AUD/USD has recently sold off to the July low at .7272, which is now being eroded. It remains immediately offered below the 200 day ma and downtrend at .7677/98. We are looking for a slide to the 2016- 2017 uptrend line at .7479”.

“The recent intermediate high on 2 nd November and 23.6% retracement at .7729/31 will need to be overcome to alleviate immediate downside pressure a trigger a retracement to .7806/.7867”.

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

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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