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16 Apr 2014
AUD/USD weakness ahead? – Commerzbank
FXStreet (Edinburgh) - According to Karen Jones, Head of FICC Technical Analysis at Commerzbank, some signs of weakness have emerged around the AUD/USD.
Key Quotes
“AUD/USD has at last started to see some near term weakness. In addition to stalling at the November high at .9448 and the 13 count on the daily chart, the market has eroded its short term accelerated uptrend”.
“Above the .9460 recent high lies the 78.6% retracement at .9522 and we are looking for this to cap the market short term”.
Key Quotes
“AUD/USD has at last started to see some near term weakness. In addition to stalling at the November high at .9448 and the 13 count on the daily chart, the market has eroded its short term accelerated uptrend”.
“Above the .9460 recent high lies the 78.6% retracement at .9522 and we are looking for this to cap the market short term”.