FXStreet reports that Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, discusses AUDUSD's prospects.

“AUD/USD has recently eroded its 20-day ma at 0.7687, but no close below here has been seen. We suspect that near-term rallies will struggle around 0.7750.53, which will leave it vulnerable to deeper losses to the 0.7463 December 21 low and also the 0.7413 September high and the 0.7340 November 9 high.”

“Above 0.7836 (2016 high) we have resistance at 0.7925 and there is scope for this to be reached, however, we suspect that this will then hold the initial test.”