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31 Oct 2013
Flash: AUD/USD keeps grinding lower - Commerzbank
FXstreet.com (Athens) - Karen Jones, Head of Technical Analysis at Commerzbank notes that AUD/USD continues to weigh on the downside and looks set for further losses to initially 0.9410, the 38.2% retracement and then 0.9266 the 200 day ma.
Key Quotes
“The market has recently charted a key day reversal from the 200 day moving average at 0.9724 and this has left the market exposed on the downside.”
“Intraday rallies are expected to struggle at 0.9530/55 and should ideally be contained by 0.9625. While capped here near term risks remain on the downside.”
Key Quotes
“The market has recently charted a key day reversal from the 200 day moving average at 0.9724 and this has left the market exposed on the downside.”
“Intraday rallies are expected to struggle at 0.9530/55 and should ideally be contained by 0.9625. While capped here near term risks remain on the downside.”