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17 Feb 2014
Flash: AUD/USD potential upside to 0.9079/86 – Commerzbank
FXStreet (Edinburgh) - According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, the AUD/USD would be well poised to re-test the high 0.90s area.
Key Quotes
“AUD/USD has held steady to higher and is well placed to retest 0.9079/86, the January high and 38.2% retracement of the move down from the end of October”.
“Above 0.9086 will introduce scope to the 200 day ma at 0.9225, but would then expect to see failure”.
In a 1-3 month view: “Negative longer term, looking for the 2013-2014 resistance line at .9257 to cap. Long term (12 months): targets .8550 en route to .8068, the 2010 low”.
Key Quotes
“AUD/USD has held steady to higher and is well placed to retest 0.9079/86, the January high and 38.2% retracement of the move down from the end of October”.
“Above 0.9086 will introduce scope to the 200 day ma at 0.9225, but would then expect to see failure”.
In a 1-3 month view: “Negative longer term, looking for the 2013-2014 resistance line at .9257 to cap. Long term (12 months): targets .8550 en route to .8068, the 2010 low”.