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29 Dec 2014
Credit Suisse: AUD/USD might see 0.8080 – eFXnews
FXStreet (Barcelona) - The eFXnews Team notes Credit Suisse maintains a short AUD/USD position and targets 0.8080 levels for the pair.
Key Quotes
“We remain bearish for our core bear target at .8066, where we look for buying to start to show.”
“AUDUSD has once again pushed lower to a new cycle low, and while still capped below the near-term downtrend at .8176, the immediate risk is seen directly lower through .8082. This should then see an extension of weakness towards our core target from the low of 2010 at .8066, potentially as far as trend support at .8019, where we would look for an attempt to base. Beneath here though can keep the immediate risk lower for .7948 – the 61.8% retracement of the 2008/2011 uptrend.”
“Above .8175/76 can see a move towards .8204/06 and then .8237/39 where we would look to find selling.”
Key Quotes
“We remain bearish for our core bear target at .8066, where we look for buying to start to show.”
“AUDUSD has once again pushed lower to a new cycle low, and while still capped below the near-term downtrend at .8176, the immediate risk is seen directly lower through .8082. This should then see an extension of weakness towards our core target from the low of 2010 at .8066, potentially as far as trend support at .8019, where we would look for an attempt to base. Beneath here though can keep the immediate risk lower for .7948 – the 61.8% retracement of the 2008/2011 uptrend.”
“Above .8175/76 can see a move towards .8204/06 and then .8237/39 where we would look to find selling.”