AUD/USD to target the end of February high at 0.8007 above 0.7849 – Commerzbank

FXStreet Insights Team FXStreet

AUD/USD stays bid above trendline support at 0.7665. Once the 0.7849 mid-March high is cleared, the aussie is set to test the end of February high at 0.8007, as reported by Commerzbank.

See: AUD/USD has the 0.80 mark within its reach – Westpac

Longer-term, the 0.8135 2018 high is in play

“AUD/USD continues to consolidate below the recent highs at 0.7815/49.”

“Dips are indicated to remain shallow and the market should remain underpinned by the 0.7665 support line.”

“Above 0.7849 targets the end of February high at 0.8007. Longer-term, the 0.8135 2018 high is in play. The 200-month ma lies at 0.8263.”

“Trendline support protects the 0.7533 April low.”

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FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

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