9 Dec 2014
AUD/USD approaching key support at .8149/.8068 – Commerzbank
FXStreet (Barcelona) - According to Karen Jones, Head of Technical Analysis at Commerzbank, AUD/USD will shortly encounter the key support at 0.8149 and 0.8068, as risks remain to the downside.
Key Quotes
“AUD/USD will shortly encounter the 200 quarter ma at .8149 and the .8068 2010 low. We have a long term double Fib support at .7950/30. These are 3 major levels of support for the market and the market is approaching them while oversold (RSI is 15).”
“Initial resistance is the Imoku 1 resistance at .8420 and downtrend at .8605. Key resistance remains to be seen at the October high at .8911. Risks are on the downside while trading below there medium term.”
Key Quotes
“AUD/USD will shortly encounter the 200 quarter ma at .8149 and the .8068 2010 low. We have a long term double Fib support at .7950/30. These are 3 major levels of support for the market and the market is approaching them while oversold (RSI is 15).”
“Initial resistance is the Imoku 1 resistance at .8420 and downtrend at .8605. Key resistance remains to be seen at the October high at .8911. Risks are on the downside while trading below there medium term.”