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10 Apr 2013
Forex Flash: AUD/USD upside bias remains above 1.0450 – Commerzbank
FXstreet.com (Barcelona) - Increasing capital flows seeking higher returns have been boosting the demand for the Aussie dollar since the BoJ announced its new QQE programme last Thursday, pushing the AUD/USD to fresh weekly highs just below 1.0560.
According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, “There is no escaping the fact that while above the 1.0450 intraday support that the market remains immediately bid – a break below here is needed to alleviate immediate upside pressure.”
The expert also added that while above here the next targets could be 1.0598 and even 1.0624.
According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, “There is no escaping the fact that while above the 1.0450 intraday support that the market remains immediately bid – a break below here is needed to alleviate immediate upside pressure.”
The expert also added that while above here the next targets could be 1.0598 and even 1.0624.