FXStreet Karen Jones, head of FICC Technical analysis at Commerzbank, notes that the Aussie Dollar remains above 0,7454 positive.
“The upward correction failed at the 200-day MA of 0,7536. This remains the barrier to the High of the triangle of 0,7722. We have an accelerated upward trend in 0,7454 and as long as the trade is about to take place, the prospects are positive. The Failure at the 200-day MA suggests to us that here is a limit.”
“The longer-term prospects are neutral in a converging Range: The development is limited to the 0,7308 – 0,7722.”
“A Failure on the 0,7442 can lead to a Test of the base of the 17-month triangle of 0,7308.”
** FXStreet News Editorial, FXStreet**