Comments on the Australian dollar via TD:

  • AUD/USD found good support at a trendline that intersects at 0.7140 today
  • we remain biased toward a weaker USD overall
  • a further (AUD) pullback would first see a test of the 0.7120 pivot, while good support should be seen in the 0.7065/7080 zone
  • If the upside does get traction once again, the post-crash, 18-month high at 0.7243 as forms the most obvious objective