Flash: AUD/USD still tries to overcome the September high at .9525 - Commerzbank

FXstreet.com (Athens) – Axel Rudolph, Head Technical Analyst at Commerzbank says that the AUD/USD still probes its initial resistance at .9510/25, made up of the 38.2% Fibonacci retracement and the September peak.

Key Quotes

“A rise above the .9547 current October high will target the .9580 May 2012 low and then the .9665 June high.”

“Only a slide below the .9390 October 10 low would alleviate immediate upside pressure and to trigger a retest of another 38.2% Fibonacci retracement support level at .9283.”