AUD/USD to suffer some further near-term slippage – Commerzbank

AUD/USD has faltered just ahead of the 200-day moving average (DMA) at 0.7565. Very near-term, Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, would allow for a small retracement.

Above the 200-DMA awaits the seven-month resistance line lies at 0.7622

“AUD/USD’s rally has now reached the 55-week ma at 0.7516, just above here lies the 200-DMA at 0.7565. We are seeing some profit taking in this vicinity and would allow for some further near term slippage.”

“Dips should find interim support at 0.7427 the 4th August high and 0.7346 (20-DMA) and this guards the 29th September low at 0.7171.”

“Above the 200-DMA lies the seven-month resistance line lies at 0.7622.”