Following the recent performance, the pair could extend the drop to sub-0.7100 levels, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank. Key Quotes “AUD/USD looks to be failing at the 55 day moving average at .7303 and the .7352 2018 channel. We would allow for a deeper set back near term and a possible re-test of the .7085 September low”. “A close above the channel should be enough to negate downside pressure and trigger a move to the .7474 9 th July high on the way to the 200 day ma at .7585″. “We note that the market has recently eroded the May and December 2016 lows at .7161/46. However the break lower has not been sustained and we suspect a false break lower. Below the .7085 recent September low should be enough to open up the path to .6827 the 2016 low”. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Austria Government looks to Ethereum to authenticate $1.3 billion bond auction: Ethereum drops 2% on Friday FX Street 4 years Following the recent performance, the pair could extend the drop to sub-0.7100 levels, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank. Key Quotes "AUD/USD looks to be failing at the 55 day moving average at .7303 and the .7352 2018 channel. We would allow for a deeper set back near term and a possible re-test of the .7085 September low". "A close above the channel should be enough to negate downside pressure and trigger a move to the .7474 9 th July high on the way to the 200 day ma at .7585". "We note that the market… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
