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14 Apr 2015
AUD/USD: focus is on the 0.7534 - CB
FXStreet (Guatemala) - Karen Jones, chief analyst at Commerzbank explained that the AUD/USD was rejected by the 55 day ma at 0.7741 and is back under pressure.
Key Quotes:
"Focus is on the 0.7534 recent low."
"Below .7534 lies the two month support line at 0.7501. Once it has given way, the October 2006 low at 0.7416 will be in focus, followed by the 0.7369 July 2005 low."
"Longer term the 61.8% Fibonacci retracement of the 2001-11 advance at 0.7180 could also be reached."
"We will retain our bearish forecast while the February and March highs at 0.7912/38 cap on a daily chart closing basis."
"A daily close above the 0.8034 early January low is needed to negate medium term downside pressure (Not favoured)."
Key Quotes:
"Focus is on the 0.7534 recent low."
"Below .7534 lies the two month support line at 0.7501. Once it has given way, the October 2006 low at 0.7416 will be in focus, followed by the 0.7369 July 2005 low."
"Longer term the 61.8% Fibonacci retracement of the 2001-11 advance at 0.7180 could also be reached."
"We will retain our bearish forecast while the February and March highs at 0.7912/38 cap on a daily chart closing basis."
"A daily close above the 0.8034 early January low is needed to negate medium term downside pressure (Not favoured)."