AUD/USD poised for a visit to 0.7476/84 – Commerzbank

Pablo Piovano FXStreet

In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the Aussie Dollar could move higher and reach the 0.7476/84 band.

Key Quotes

“AUD/USD recently sold off to, tested and bounced off the .7310/15 recent lows. The strong rebound from here implies a reluctance to break down further currently and we are going to have to neutralise our view for now”.

“Following such a strong rebound on Friday, we are going to have to allow for a recovery to the 55 day ma and recent high at .7476/84. This guards the downtrend at .7539. Above the downtrend would see a challenge of the .7676 June high and the .7670 200 day ma”.

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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