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28 Jul 2015
AUD/USD: on the way to the base of 2-year channel - CB
FXStreet (Guatemala) - Karen Jones, chief analyst at Commerzbank explained that AUD/USD held steady yesterday and the recent low has been accompanied with a divergence of the daily RSI.
Key Quotes:
"The market is now approaching the base of the 2 year channel at 0.7188 and major support in the form of a long term Fibonacci retracement at 0.7185 and the 14 year support line at 0.7144. We look for these to hold the downside on the initial test and provoke some profit taking."
Key Quotes:
"The market is now approaching the base of the 2 year channel at 0.7188 and major support in the form of a long term Fibonacci retracement at 0.7185 and the 14 year support line at 0.7144. We look for these to hold the downside on the initial test and provoke some profit taking."