24 Apr 2014
AUD/USD upside capped around 0.9325 – Commerzbank
FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, sees bullish attempts to fail above 0.9320.
Key Quotes
“AUD/USD is holding the 23.6% retracement at .9271/68- this is viewed as temporary and we look for near term rallies to terminate circa .9325 for further losses towards .9207, the April low, and the .9179 uptrend”.
“The Elliott wave count on the daily is suggesting losses to .9175 then .9075”.
“Above the .9460 recent high lies the 78.6% retracement at .9522 and we are looking for this to cap the market short term”.
Key Quotes
“AUD/USD is holding the 23.6% retracement at .9271/68- this is viewed as temporary and we look for near term rallies to terminate circa .9325 for further losses towards .9207, the April low, and the .9179 uptrend”.
“The Elliott wave count on the daily is suggesting losses to .9175 then .9075”.
“Above the .9460 recent high lies the 78.6% retracement at .9522 and we are looking for this to cap the market short term”.