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In opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the Aussie Dollar could extend the rebound to the 0.7630/0.7700 band.

Key Quotes

AUD/USD has recently based at .7413 and has eroded the 38.2% retracement at .7568. This has completed a small base and we would allow for a deeper corrective phase to .7630/.7700. The March low is at .7643″.

“Below .7413 lie the next lower May 2017 lows at .7373/.7330. Longer term we look for a move to the 2001-2018 uptrend line at .7156″.