AUD/USD extends the correction from highs – Commerzbank

FXStreet (Edinburgh) - Karen Jones, Head of FICC Technical Analysis at Commerzbank, sees support for the AUD/USD can be found in the 0.9300 area.

Key Quotes

“AUD/USD has eased slightly lower following its recent failure at the November high at .9448 and the break of its short term accelerated uptrend”.

“Support below here is found at .9302/07 and at last weeks low at .9207 ahead of the .9137 uptrend”.

“Above the .9460 recent high lies the 78.6% retracement at .9522 and we are looking for this to cap the market short term”.