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20 May 2014
AUD/USD risks another test of 0.9200
FXStreet (Edinburgh) - In the opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, risks have increased for a test of the 0.9200 support.
Key Quotes
“AUD/USD is struggling short term to regain enough upside traction to clear the .9410 mid May high. It has sold off towards the 2014 support line at .9296”.
“Currently near term risk is for a slide back to .9200/03, where it should stabilise”.
“Only a daily close above the current May high at .9409 will push the .9460 April high back to the fore and longer term put a rise towards the .9758 October 2013 high back on the map”.
Key Quotes
“AUD/USD is struggling short term to regain enough upside traction to clear the .9410 mid May high. It has sold off towards the 2014 support line at .9296”.
“Currently near term risk is for a slide back to .9200/03, where it should stabilise”.
“Only a daily close above the current May high at .9409 will push the .9460 April high back to the fore and longer term put a rise towards the .9758 October 2013 high back on the map”.