AUD/USD targets 0.7421/10 while below 0.7642 – Commerzbank

In view of Axel Rudolph, Senior Technical Analyst at Commerzbank, the Aussie dollar still targets the 0.7421/10 band while below 0.7642.

Key Quotes

“AUD/USD will still target the July lows at .7421/10 while no rise above the one month resistance line at .7642 is seen”.

“Further down the 200 day ma and the 2016 support line can be found at .7395/90”.

“Strong resistance can be found between the June and July highs as well as the one month resistance line at .7649/75. While the currency pair remains below its August 26 high at .7691 downside pressure should be maintained”.