According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, spot could re-visit the 0.7435/0.7335 band following recent tops near 0.7600.
Key Quotes
“AUD/USD has spiked to .7593 yesterday, by this has been accompanied by a TD perfected set up and for now the daily Elliott wave is indicating dips to .7435/.7335 are likely near term”.
“Currently if we assume that AUD/USD has based the measurement higher extends to .7760”.
(Market News Provided by FXstreet)