AUD/USD: Correction lower in the offing - Commerzbank

Market news

28 January 2021

AUD/USD: Correction lower in the offing - Commerzbank

FXStreet reports that Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank suggests that AUD/USD could now face some downside pressure.

“AUD/USD’s symmetrical triangle broke downwards, this implies that the market has topped for now and we should see a correction lower take hold. It is now vulnerable to deeper losses to the .7463 December 21 low and also the .7413 September high and the .7340 November 9 high. The 2020-2021 support line lies at .7530.”

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