AUD/USD could climb to 0.9380 – Commerzbank

FXStreet (Edinburgh) - The recent price action in the AUD/USD leaves the pair poised for a potential test of the 0.9380 level, suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank.

Key Quotes

“AUD/USD has rebounded off the .9203 low – this has now survived 5 tests of this level. It has regained the 55 day and we will assume that it is well placed to tackle the .9380 resistance line”.

“We will assume while above .9203 an upside bias persists, only below here would introduce scope to .9155 and .9060”.