AUD/USD: Attention is on support at 0.6430 – Commerzbank

AUD/USD is finding nearby support at the channel at 0.6430 but remains capped by the 0.6570 high, Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, briefs.

Key quotes

“To reinvigorate upside interest AUD/USD will need to regain the 0.6570 recent high, and this looks to currently be a tall order. We would allow for further slippage to the 55-day ma at 0.6303.”

“Above 0.6570 we look for a test of the 0.6670/84 March high and 200-day moving average where we would expect it to struggle.”