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10 Jul 2015
AUD/USD remains offered below 0.7579/63 - CB
FXStreet (Guatemala) - Karen Jones, chief analyst at Commerzbank explained that AUD/USD has started to erode the base of the 2015 channel but has yet to CLOSE below here (currently at 0.7243).
Key Quotes:
"None the less it is vulnerable to further losses. We look for losses to the base of the 2 year channel at 0.7193 longer term. Near term the market remains offered below the 0.7663 short term resistance line."
"We note very near term the presence of a 13 count on the 240 minute chart and TD support at 0.7360. We may see a small rebound – but this is currently indicated to terminate circa 0.7480/0.7555. Rallies will find initial resistance at 0.7579, the 23.6% retracement and should ideally remain contained by the 0.7663 short term resistance line to remain directly offered."
Key Quotes:
"None the less it is vulnerable to further losses. We look for losses to the base of the 2 year channel at 0.7193 longer term. Near term the market remains offered below the 0.7663 short term resistance line."
"We note very near term the presence of a 13 count on the 240 minute chart and TD support at 0.7360. We may see a small rebound – but this is currently indicated to terminate circa 0.7480/0.7555. Rallies will find initial resistance at 0.7579, the 23.6% retracement and should ideally remain contained by the 0.7663 short term resistance line to remain directly offered."