Flash: AUD/USD 2month eroded - Commerzbank

FXstreet.com (Athens) – Karen Jones Head Technical Analyst of Commerzbank, suggests that the AUD/USD remains under pressure following the break of its 2 month uptrend and the .9543/23.6% retracement of the move up from August.

Key Quotes

“The market has recently charted a key day reversal from the 200 day moving average at .9724 and is exposed on the downside for losses towards the 38.2% retracement at .9410 and then the 55 day ma at .9326.”

“Intraday rallies are expected to struggle at .9540 and should ideally be contained by .9625.”