Flash: AUD/USD slowly drifts back towards the July high at 0.9318 - Commerzbank

FXstreet.com (Athens) – Karen Jones, Head Technical Analyst at Commerzbank mentions that the while the AUD/USD is likely to consolidate here, it needs to hold over the 0.9318 level.

Key Quotes

“Failure here will imply a loss of momentum and potential for a slide back to the 0.9233 August high, then .9160 55 day ma.

“Immediate resistance is the .9580 May 2012 low and then the .9665 June high and the .9715 50% retracement of the move down from April.”