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6 Aug 2014
AUD/USD still under pressure – Commerzbank
FXStreet (Edinburgh) - The area of 0.9345 would act as a decent interim resistance in case of bullish attempts, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank.
Key Quotes
“AUD/USD remains under pressure. The intraday Elliott wave counts are negative and we look for losses to the .9203/.9184 May low and 200 day ma”.
“We also find the 55 week ma in this vicinity at .9202 and the 32.8% retracement at .9195. These represent major break down points short term”.
“Rallies will find good interim resistance at .9345. Risks will remain on the downside while capped by the .9475 recent high”.
Key Quotes
“AUD/USD remains under pressure. The intraday Elliott wave counts are negative and we look for losses to the .9203/.9184 May low and 200 day ma”.
“We also find the 55 week ma in this vicinity at .9202 and the 32.8% retracement at .9195. These represent major break down points short term”.
“Rallies will find good interim resistance at .9345. Risks will remain on the downside while capped by the .9475 recent high”.