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23 Jun 2015
AUD/USD: 200 Day MA key upside target - CB
FXStreet (Guatemala) - Karen Jones, chief analyst at Commerzbank noted the technical conditions surrounding AUD/USD.
Key Quotes:
"AUD/USD towards the end of last week eroded .7800/18, (the 38.2% retracement and early June high), but did not managed to close above there and currently we will stand aside."
"A close above here will suggest that the market has temporarily based for now and allow for a rally towards the 0.7947, the 61.8% retracement and again introduce scope for recovery towards the 200 day ma at 0.8124. Dips lower intraday should find support at 0.7720 ahead of 0.7646."
Key Quotes:
"AUD/USD towards the end of last week eroded .7800/18, (the 38.2% retracement and early June high), but did not managed to close above there and currently we will stand aside."
"A close above here will suggest that the market has temporarily based for now and allow for a rally towards the 0.7947, the 61.8% retracement and again introduce scope for recovery towards the 200 day ma at 0.8124. Dips lower intraday should find support at 0.7720 ahead of 0.7646."