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22 Nov 2013
Flash: AUD/USD is under pressure - Commerzbank
FXstreet.com (Edinburgh) - Karen Jones, Head of Technical Analysis at Commerzbank notes that AUD/USD is breaking down further and we regard this weeks high at 0.9449 as an interim peak.
Key Quotes
“It has eroded the 0.9273 recent low and is back under pressure. The initial target at .9196 has been eroded and we look for losses to 0.9034, the 78.6% Fibonacci retracement of the same move.”
“This is the last defence for the 0.8848 August low.Intraday charts are suggesting rallies towards 0.9230/65 will be met with more selling.”
Key Quotes
“It has eroded the 0.9273 recent low and is back under pressure. The initial target at .9196 has been eroded and we look for losses to 0.9034, the 78.6% Fibonacci retracement of the same move.”
“This is the last defence for the 0.8848 August low.Intraday charts are suggesting rallies towards 0.9230/65 will be met with more selling.”