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27 Mar 2015
AUD/USD to remain under pressure - CB
FXStreet (Guatemala) - Karen Jones, chief analyst at Commerzbank explained that as long as AUD/USD remains below this week’s high at 0.7938 on a daily chart closing basis, the currency pair should remain under pressure.
Key Quotes:
"We thus look for a slide back towards the two month support line at 0.7531 which we would expect to hold the initial test. Below it lurks the 61.8% Fibonacci retracement of the move up from 2001 at 0.8184."
"Good resistance comes in between the February high at 0.7912 and current March high at 0.7938."
"A daily close above the 0.8034 early January low is needed to alleviate downside pressure."
Key Quotes:
"We thus look for a slide back towards the two month support line at 0.7531 which we would expect to hold the initial test. Below it lurks the 61.8% Fibonacci retracement of the move up from 2001 at 0.8184."
"Good resistance comes in between the February high at 0.7912 and current March high at 0.7938."
"A daily close above the 0.8034 early January low is needed to alleviate downside pressure."