FXStreet (Edinburgh) – The bearish stance remains intact around the Aussie dollar, signalling a potential visit to the 0.6940 area, according to Karen Jones, Head of FICC Technical Analysis at Commerzbank.
Key Quotes
“AUD/USD is at last showing embryonic signs of failure at the near term resistance line at .7133”.
“While capped here the market stays overall negative and remains offered. Medium term we continue to target the September low at .6940. Below it lies the .6905 recent low and also the .6774 2004 low”.
“Above the .7133 resistance line, key resistance remains at .7229, the 2014-2015 downtrend”.
(Market News Provided by FXstreet)