AUD/USD is trading near the 0.7087 daily high, up 0.5% on Friday. Nonetheless, Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, sees the aussie under pressure after eroding the 55-day ma and the five-month uptrend and is targeting the 200-day ma at 0.6773. Key quotes “AUD/USD has continued to sell-off sharply following the erosion of the 55-day ma and the five-month uptrend. It is under pressure and we look for a slide to the 0.6964, the 23.6% retracement. There is scope for this to extend towards the 200-day ma, the February high and mid-June low at 0.6778/73, which is expected to hold the initial test.” “Currently intraday Elliott wave counts are negative and rallies are likely to remain capped by 0.7135 level and contained by the 0.7303 minor resistance line.” 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 EUR/USD: Profile Unchanged, With Lower N-Term; Where To Target? – BofA Kenny Fisher 2 years AUD/USD is trading near the 0.7087 daily high, up 0.5% on Friday. Nonetheless, Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, sees the aussie under pressure after eroding the 55-day ma and the five-month uptrend and is targeting the 200-day ma at 0.6773. Key quotes “AUD/USD has continued to sell-off sharply following the erosion of the 55-day ma and the five-month uptrend. It is under pressure and we look for a slide to the 0.6964, the 23.6% retracement. There is scope for this to extend towards the 200-day ma, the February high and mid-June low at 0.6778/73, which… 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.
