FXStreet reports that Karen Jones, Team Head FICC Technical Analysis Research, suggests that a move to the 200-day SMA in the 0.7230-region in AUD/USD still remains on the cards.

“AUD/USD has seen only a tepid correction higher, which has remained contained by the 20-day ma at .7423 and the resistance line at .7423, leaving the market on the defensive.”

“While capped here, we target initially the 200 week ma at .7232. Longer-term there is scope for .7054/.6991.”