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21 Sep 2013
Flash: AUD/USD in constructive consolidation; can it hold 0.9400?
FXstreet.com (London) - Karen Jones, chief economist at Commerzbank said AUD/USD has consolidated its move higher following its recent break of key resistance at .9388/.9404 (2011 low and 2009 high).
Key Quotes:
“While it is likely to consolidate here, we look for dips lower to hold over the 0.9381 accelerated uptrend and while above here it will remain bid”.
“Immediate resistance is the .9580 May 2012 low and then the .9665 June high and the .9715 50% retracement of the move
Key Quotes:
“While it is likely to consolidate here, we look for dips lower to hold over the 0.9381 accelerated uptrend and while above here it will remain bid”.
“Immediate resistance is the .9580 May 2012 low and then the .9665 June high and the .9715 50% retracement of the move