AUD/USD offered below 0.7677/98 – Commerzbank

AUD/USD should remain offered while below the 0.7677/98 band, according to Karen Jones, Head of FICC Technical Analysis at Commerzbank.

Key Quotes

“AUD/USD has recently sold off to the July low at .7272, which is now being eroded. It remains immediately offered below the 200 day ma and downtrend at .7677/98. We are looking for a slide to the 2016- 2017 uptrend line at .7479”.

“The recent intermediate high on 2 nd November and 23.6% retracement at .7729/31 will need to be overcome to alleviate immediate downside pressure a trigger a retracement to .7806/.7867”.

“Above the .8162 May 2015 peak lies the .8295 January 2015 high”.