In opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the Aussie Dollar should find decent support in the 0.7530/0.7496 band.
Key Quotes
“The market last week eased back in the middle of the channel and is recovering from there. Very near term we are seeing a rebound from the 200 day ma at .7530. Above .7635/52 will target the top of the triangle at .7712. The market is expected to find support at the 200 day ma at 0.7530 and the 55 day ma at .7496”.
“Above .7635/42 should trigger a move to the top of the triangle at .7712. Below the 55 day ma targets the bottom of the triangle at .7342”.
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