AUD/USD appears supported at the 0.7319/11 band – Commerzbank

Axel Rudolph, Senior Analyst at Commerzbank, noted the Aussie Dollar remains well supported in the 0.7319/11 band.

Key Quotes

“AUD/USD remains under pressure within its range. Overhead lie the 55 day moving average and July high at .7456/84. If bettered, the May high at .7605 would be back in the frame”.

“Key nearby supports remain the .7319/11 July lows. Below this level the cross is capable of a slide to the 2001-2018 uptrend line at .7191”.

“Above the downtrend would see a challenge of the .7676 June high and the .7655 200 day ma”.