AUD/USD: Important bullish day ahead – Commerzbank

Market news

5 February 2020

AUD/USD: Important bullish day ahead – Commerzbank

FXStreet reports that AUD/USD must be kept on track today as the pair should show signs of recovery, Karen Jones from Commerzbank analyses.

"AUD/USD is attempting to stabilise ahead of the .6671 October low and yesterday charted a key day reversal. We should see further some signs of recovery towards .6800 and possibly the 200-day ma at .6867"

"The 2016-2020 support line lies at .6658, and these should ideally hold."

"The market will need to close above January's high at .6933 to alleviate downside pressure and reassert attention to the .7031 end of December high."

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