AUD/USD could re-test 0.7492 – Commerzbank

The Aussie dollar is expected to re-test 0.7492, according to Senior Analyst at Commerzbank Axel Rudolph.

Key Quotes

“AUD/USD reached but was then vehemently rejected by the six month resistance line at .7731. As long as it and the August high at .7755 cap on a daily chart closing basis a slip back towards the August low at .7492 should be seen. Once slipped through, the July lows at .7421/10 would be back in the picture”.

“While trading below the .7755 August peak the 200 day ma and the 2016 support line at .7408/.7395 will remain in focus”.