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1 Nov 2013
Flash: AUD/USD grinding lower - Commerzbank
FXstreet.com (Athens) – Karen Jones Head Technical Analyst of Commerzbank says that AUD/USD no change, the market continues to weigh on the downside and looks set for further losses to initially .9410, the 38.2% retracement and then .9336 the 55 day ma.
Key Quotes
“The market has recently charted a key day reversal from the 200 day moving average at .9714 and this has left the market exposed on the downside.”
“Intraday rallies are expected to struggle at .9530/55 and should ideally be contained by .9625. While capped here near term risks remain on the downside.”
Key Quotes
“The market has recently charted a key day reversal from the 200 day moving average at .9714 and this has left the market exposed on the downside.”
“Intraday rallies are expected to struggle at .9530/55 and should ideally be contained by .9625. While capped here near term risks remain on the downside.”