Currency Analyst since 2010

Commerzbank: AUD may retest $0.9510/25

Analysts at Commerzbank claim that AUD/USD may retest $0.9510/25 (38.2% Fibo retracement of the decline from April to August and the recent high) and probably to $0.9580 (May 2012 low), $0.9665 (June high) and $0.9715 (50% Fibo). According to the specialists, support lies at $0.9383 and $0.9233. Below the latter, Aussie will be vulnerable for a slide to $0.9182 (55-day MA) and potentially back to below $0.9000.

Chart. Daily AUD/USD



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