FXStreet reports that Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, sees a small retracement in AUD/USD in the near term.
“AUD/USD’s rally has now reached the 55-week ma at 0.7516, just above here lies the 200-DMA at 0.7565. We are seeing some profit-taking in this vicinity and would allow for some further near-term slippage.”
“Dips should find interim support at 0.7427 the 4th August high and 0.7346 (20-DMA) and this guards the 29th September low at 0.7171."