Back
13 Mar 2014
Flash: AUD/USD found short term support at the 55 day ma at 0.8927 - Commerzbank
FXStreet (Barcelona) - Axel Rudolph, Senior Technical Analyst at Commerzbank notes that AUD/USD dropped to the 55 day moving average at 0.8927 which acted as support and provoked a bounce back to the 0.9079/86 resistance area which should cap today.
Key Quotes
“It is where the 38.2% Fibonacci retracement and the January peak meet. Further resistance is seen between the current March high at 0.9132 and the 200 day moving average and 2013-2014 resistance line at .9160/69.”
“Good support remains to be seen at 0.8927/0.8891, the latter being the current March low. In case of failure there, the 0.8834/22 support area, the December lows, could be revisited.”
Key Quotes
“It is where the 38.2% Fibonacci retracement and the January peak meet. Further resistance is seen between the current March high at 0.9132 and the 200 day moving average and 2013-2014 resistance line at .9160/69.”
“Good support remains to be seen at 0.8927/0.8891, the latter being the current March low. In case of failure there, the 0.8834/22 support area, the December lows, could be revisited.”