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23 May 2013
Flash: AUD/USD a new one year low - Commerzbank
FXstreet.com (London) - Research team at Commerzbank have noted that AUD/USD continued its slide and has so far made a new one year low at 0.9626.
They say that this is right within the support band at 0.9640/0.9580 and it is the location of the 2008-2013 uptrend and the 2012 low. They expect the pair to level out now, today at least, adding that the 2012 low will act as the break down point to 0.9404/0.9388, the inter-year pivot and our medium term downside target.
They say that this is right within the support band at 0.9640/0.9580 and it is the location of the 2008-2013 uptrend and the 2012 low. They expect the pair to level out now, today at least, adding that the 2012 low will act as the break down point to 0.9404/0.9388, the inter-year pivot and our medium term downside target.