Karen Jones, analyst at Commerzbank, points out that the AUD/USD pair has continued to bounce higher very near term, and suggest that their Elliott wave counts are negative and are looking for failure in this zone and for further weakness to .6950, this is the 61.8% retracement of the move up from January 2019. Key Quotes “There is scope for the .6857/78.6% retracement. Rallies will find initial resistance at .7125 (55 day ma) and .7207 (end of February high) and are likely to remain capped by the .7231 200 day ma. Price action in January was exhaustive – the market charted a hammer (reversal). This suggests the down move ended at .6738.” 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 Nordea Bank: Trigger needed for US recession FX Street 4 years Karen Jones, analyst at Commerzbank, points out that the AUD/USD pair has continued to bounce higher very near term, and suggest that their Elliott wave counts are negative and are looking for failure in this zone and for further weakness to .6950, this is the 61.8% retracement of the move up from January 2019. Key Quotes "There is scope for the .6857/78.6% retracement. Rallies will find initial resistance at .7125 (55 day ma) and .7207 (end of February high) and are likely to remain capped by the .7231 200 day ma. Price action in January was exhaustive - 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.
