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3 Mar 2015
AUD/USD: A technical snapshot - CB
FXStreet (Guatemala) - Karen Jones, chief analyst at Commerzbank who notes downward pressures in AUD/USD below the 0.7918 downtrend gave a snapshot of the technicals.
Key Quotes:
"Below 0.7597 we have very little support apart from the 0.7335, 50% retracement of the move up from 2001. Above the downtrend would introduce scope to the 0.8034 7th January low."
"The market recently again held over the base of the 2013-2015 down channel at 0.7597. A close above 0.8035 is needed to alleviate downside pressure."
Key Quotes:
"Below 0.7597 we have very little support apart from the 0.7335, 50% retracement of the move up from 2001. Above the downtrend would introduce scope to the 0.8034 7th January low."
"The market recently again held over the base of the 2013-2015 down channel at 0.7597. A close above 0.8035 is needed to alleviate downside pressure."