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Flash: AUD/USD, greater risks of a 2013 lows retest - ANZ

FXstreet.com (Barcelona) – According to Tim Riddell, Head of Global Markets Research at ANZ, the sharpness in the latest AUD/USD sell-off suggest that a retests of 2013 lows is now on the cards.

Key Quotes

“The extending pullbacks from 0.9760 (0.9720 being 50% of 2013’s range) suggest that a deep and volatile consolidation is developing off the mid-2013 lows (0.8850-0.8900).”

“Although this is the current favoured profile, the sharpness of the current slide will raise concerns of another down-leg being in play which could force a full test of the deep retracement zone (0.8550-0.8675), as highlighted above.”

“The faltering of rebounds at the first …read more