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3 Apr 2014
AUD/USD holds below the 0.9300 resistance again - Commerzbank
FXStreet (Barcelona) - Karen Jones, Head of Technical Analysis at Commerzbank notes that AUD/USD continues to stall at resistance circa 0.9300.
Key Quotes
“We look for the market to ease back from tough resistance offered by the top of the channel, which lies at 0.9364 today and the Fibonacci retracement at 0.9338.”
“Support is found at 0.9140 the 200 day ma and at 0.9105 Fibo support ahead of the 0.9058 channel support.
“Above 0.9338/48, the 61.8% retracement and channel, targets the 0.9348 55 week ma and introduces scope to 0.9448, the November high.”
Key Quotes
“We look for the market to ease back from tough resistance offered by the top of the channel, which lies at 0.9364 today and the Fibonacci retracement at 0.9338.”
“Support is found at 0.9140 the 200 day ma and at 0.9105 Fibo support ahead of the 0.9058 channel support.
“Above 0.9338/48, the 61.8% retracement and channel, targets the 0.9348 55 week ma and introduces scope to 0.9448, the November high.”