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16 Jul 2015
AUD/USD to resume downside - CB
FXStreet (Guatemala) - Karen Jones, chief analyst at Commerzbank explained and noted that AUD/USD charted an outside day to the downside.
Key Quotes:
"We will assume resumption of the downmove. Outlook stays negative while below the 0.7601 downtrend. We continue to look for losses to the base of the 2 year channel at 0.7177 longer term."
"We do have a TD perfected set up on the 240 minute chart so would allow for a small rally very near term. Rallies will find initial resistance at 0.7544, the 23.6% retracement and should ideally remain contained by the 0.7601 short term resistance line to remain directly offered."
Key Quotes:
"We will assume resumption of the downmove. Outlook stays negative while below the 0.7601 downtrend. We continue to look for losses to the base of the 2 year channel at 0.7177 longer term."
"We do have a TD perfected set up on the 240 minute chart so would allow for a small rally very near term. Rallies will find initial resistance at 0.7544, the 23.6% retracement and should ideally remain contained by the 0.7601 short term resistance line to remain directly offered."