AUD/USD: Sharp pullback to find solid support at 0.7703 – Commerzbank

On Thursday, the AUD/USD pair witnessed a key day reversal from psychological resistance at 0.8000 and is now testing the 0.7820 January high, Karen Jones, Team Head FICC Technical Analysis Research, briefs.

Key quotes

“AUD/USD charted a key day reversal from psychological resistance at 0.8000 and we will attempt to exit remaining long positions.” 

“The 0.7820 January high is now exposed, but key support short-term is the 55-day ma at 0.7703 and uptrend support at 0.7722. Failure here would target the 0.7564 February low.” 

“Above 0.8000 is the 2018 peak at 0.8135.”