17 Feb 2015
AUD/USD key range between 0.8024 / 0.7597- CB
FXStreet (Guatemala) - Karen Jones, chief analyst at Commerzbank noted the technical conditions surrounding AUD/USD.
Key Quotes:
"AUD/USD is essentially holding sideways but the near term risk is that we will see a correction higher."
"The market recently again held over the base of the 2013-2015 down channel at 0.7597. Attention reverts this week to the 20 day ma at 0.7832, the 7th Jan low at 0.8034 and the downtrend at 0.8024."
"A close above here is needed to alleviate downside pressure. Below 0.7597 we have very little support apart from the 0.7335, 50% retracement of the move up from 2001."
Key Quotes:
"AUD/USD is essentially holding sideways but the near term risk is that we will see a correction higher."
"The market recently again held over the base of the 2013-2015 down channel at 0.7597. Attention reverts this week to the 20 day ma at 0.7832, the 7th Jan low at 0.8034 and the downtrend at 0.8024."
"A close above here is needed to alleviate downside pressure. Below 0.7597 we have very little support apart from the 0.7335, 50% retracement of the move up from 2001."