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21 Feb 2014
Flash: AUD/USD easing lower from the 0.9079/86 resistance - Commerzbank
FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank notes that AUD/USD continues to ease back from 9079/86, the January high and 38.2% retracement of the move down from the end of October.
Key Quotes
“We look for losses initially to market will ease lower towards 0.8921/01 (the 55 and 20 day ma). Only above 0.9086 would introduce scope to the 200 day ma at 0.9207, but this is less favoured.”
“We have minor support 0.8910/07, but consider that support at .8825 (December low) guards key support at 0.8683/0.8660 (the 2011-2014 channel base, the 38.2% retracement of the move from 2001 to 2011 and the recent low).”
Key Quotes
“We look for losses initially to market will ease lower towards 0.8921/01 (the 55 and 20 day ma). Only above 0.9086 would introduce scope to the 200 day ma at 0.9207, but this is less favoured.”
“We have minor support 0.8910/07, but consider that support at .8825 (December low) guards key support at 0.8683/0.8660 (the 2011-2014 channel base, the 38.2% retracement of the move from 2001 to 2011 and the recent low).”