The Aussie Dollar is expected to remain under pressure as long as 0.7244 caps, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank. Key Quotes “AUD/USD is consolidating just below the top of the .7244 2018 channel – while capped here this will leave the market under overall pressure. However the risk has increased that we will see a close above here and we favour a break higher. Why? We are looking for reversal for a number of reasons – we have TD support at .6995 and the large divergence of the daily and weekly RSI”. “A close above the channel would be required to negate downside pressure and trigger a move to the .7474 9 th July high on the way to the 200 day ma at .7482″. 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 China’s Premier Li: Will not resort to competitive currency devaluation FX Street 4 years The Aussie Dollar is expected to remain under pressure as long as 0.7244 caps, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank. Key Quotes "AUD/USD is consolidating just below the top of the .7244 2018 channel - while capped here this will leave the market under overall pressure. However the risk has increased that we will see a close above here and we favour a break higher. Why? We are looking for reversal for a number of reasons - we have TD support at .6995 and the large divergence of the daily and weekly RSI". "A close above… 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.
