24 Jul 2014
AUD/USD bid above 0.9330 – Commerzbank
FXStreet (Edinburgh) - The bid tone around the AUD/USD is set to prevail above 0.9330, observed Karen Jones, Head of FICC Technical Analysis at Commerzbank.
Key Quotes
“AUD/USD has extended its bounce from the .9330 3rd July low, this feels more directional and the market is now bid above .9330”.
“It has eroded the .9458 10th of July exposed and the break above here suggests another run up to the .9505 July high and .9523 Fibo”.
“Only below .9330 will trigger losses to the .9203/.9198 May low and 200 day ma”.
“We also find the 55 week ma in this vicinity at .9188 and the 32.8% retracement at .9195. These represent major break down points short term”.
Key Quotes
“AUD/USD has extended its bounce from the .9330 3rd July low, this feels more directional and the market is now bid above .9330”.
“It has eroded the .9458 10th of July exposed and the break above here suggests another run up to the .9505 July high and .9523 Fibo”.
“Only below .9330 will trigger losses to the .9203/.9198 May low and 200 day ma”.
“We also find the 55 week ma in this vicinity at .9188 and the 32.8% retracement at .9195. These represent major break down points short term”.