AUD/USD to target the end of February high at 0.8007 above 0.7849 – Commerzbank

0

AUD/USD stays bid above trendline support at 0.7665. Once the 0.7849 mid-March high is cleared, the aussie is set to test the end of February high at 0.8007, as reported by Commerzbank.

See: AUD/USD has the 0.80 mark within its reach – Westpac

Longer-term, the 0.8135 2018 high is in play

“AUD/USD continues to consolidate below the recent highs at 0.7815/49.” 

“Dips are indicated to remain shallow and the market should remain underpinned by the 0.7665 support line.”

“Above 0.7849 targets the end of February high at 0.8007. Longer-term, the 0.8135 2018 high is in play. The 200-month ma lies at 0.8263.”

“Trendline support protects the 0.7533 April low.”

 

Get the 5 most predictable currency pairs

About Author

Comments are closed.