Filed Under:
Forex pairs in this Article » AUD/USD (Barcelona) - The AUDUSD well-defined parameters remain intact, says JPMorgan FX team. The failure to extend above 1.0600/1.625 resistance "allows for another retracement within this consolidation phase" the bank says, adding that this conclusion is in line with the current overbought framework.

JPM expands: "While a pullback is due, note the magnitude of recent retracements has diminished since September as AUDUSD has held well-above important support levels. In turn, we see an increased risk that an upside resolution can eventually develop. The 1.0345/1.0305 zone (December low/200-day moving average) will act as key support and define whether a deeper corrective phase into the 1.02/1.01 zone and medium term range lows. While intact, the upside risks should prevail."
comments powered by Disqus