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8 Oct 2013
Flash: AUD/USD bid above 0.9283 - Commerzbank
FXstreet.com (Athens) – Karen Jones, Head Technical Analyst at Commerzbank suggests that the AUD/USD charted an almost replica session leaving the outlook unchanged.
Key Quotes
“The market last week tested, held and bounced off its 38.2% retracement support at .9283 and looks capable of retesting the 38.2% retracement and recent high at .9510/25.”
“Below .9283, support lies at the .9233 August high and the market should remain under pinned here for gains to the .9525 recent high ahead of the .9580 May 2012 low and then the .9665 June high and the .9715 50% retracement of the move down from April.”
“Failure at .9233 implies a loss of momentum and potential for a slide back to the .9185 55 day ma and potentially back to sub .9000.”
Key Quotes
“The market last week tested, held and bounced off its 38.2% retracement support at .9283 and looks capable of retesting the 38.2% retracement and recent high at .9510/25.”
“Below .9283, support lies at the .9233 August high and the market should remain under pinned here for gains to the .9525 recent high ahead of the .9580 May 2012 low and then the .9665 June high and the .9715 50% retracement of the move down from April.”
“Failure at .9233 implies a loss of momentum and potential for a slide back to the .9185 55 day ma and potentially back to sub .9000.”