AUD/USD poised for further pullbacks – Commerzbank

By FXStreet FXStreet (Edinburgh) – In view of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the perspective for the Aussie dollar remains bearish, pointing to a test of 0.6774 in the longer run.

Key Quotes

“AUD/USD risks are on the downside longer term and we target the .6774 2004 low”.

“Near term we suspect that we may see some consolidation and for now have exited remaining short positions”.

“We note that the weekly RSI did not confirm the new low”.
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Source:: FX Street