14 Apr 2014
AUD/USD holding the 0.9448 November high - Commerzbank
FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank sees no change for AUD/USD.
Key Quotes
“AUD/USD pushed higher all of last week but has held the initial test of the November high at 0.9448. Between here and the 78.6% retracement at 0.9522 we suspect that we will see initial failure – we note the 13 count on the daily chart.”
“We suspect however that this will simply be the market consolidating its recent gains. In order to alleviate immediate upside pressure a close below the accelerated uptrend at 0.9356 is needed.”
Key Quotes
“AUD/USD pushed higher all of last week but has held the initial test of the November high at 0.9448. Between here and the 78.6% retracement at 0.9522 we suspect that we will see initial failure – we note the 13 count on the daily chart.”
“We suspect however that this will simply be the market consolidating its recent gains. In order to alleviate immediate upside pressure a close below the accelerated uptrend at 0.9356 is needed.”