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1 Jun 2017
AUD/USD stays offered below 0.7530 – Commerzbank
The stance on the Aussie Dollar remains offered while below the key 200-day sma in the 0.7530 region, according to Karen Jones, Head of FICC Technical Analysis at Commerzbank.
Key Quotes
“AUD/USD maintains a negative bias below the 200 day ma. The market has eroded the 20 day ma and is back under pressure. The market was last week rejected by the 200 day ma at .7530 and while capped here will remain directly offered. Loss of the 20 day ma adds weight to that view and retargets the bottom of the converging range at .7315”.
“Above the 200 day ma should trigger a move to the top of the triangle at .7720”.