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22 Mar 2016
AUD/USD: a correction lower is likely – Commerzbank
The Aussie dollar risks a pullback to the 0.7520/0.7415 area, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank.
Key Quotes
“AUD/USD is easing back from the 61.8% retracement at 0.7650/52 and we notice the 13 count on the daily chart and some caution is necessary, we would allow for some near term weakness”.
“The intraday Elliott count is suggesting a retracement to .7520/.7415”.
Key Quotes
“AUD/USD is easing back from the 61.8% retracement at 0.7650/52 and we notice the 13 count on the daily chart and some caution is necessary, we would allow for some near term weakness”.
“The intraday Elliott count is suggesting a retracement to .7520/.7415”.