AUD/USD: Looking for a retest of the .7330/36 - Commerzbank

Karen Jones, Analyst at Commerzbank, suggests that the AUD/USD pair has at last recovered from its previous channel and 55 day ma, located at .7177/84 and while the market is underpinned here, they will look for a retest of the .7330/36 April low and recent high.

Key Quotes

“We continue to target the 200 day moving average at .7424 and the July 9 high at .7484.”

“Short term trend (1-3 weeks): Break above the .7302/14 area would target the 200 day moving average.”

“Long term trend (1-3 months): Break above the .7302/14 area would target the 200 day moving average.”