(10 APRIL 2017)AUD / USD:Breaks support area.

(10 APRIL 2017)AUD / USD:Breaks support area.

10 April 2017, 14:22
Jiming Huang


Breaks support area.

• AUD/USD has broken the support at 10.7494 

(19/01/2017 low. The current bounce near the 

support has thus far unimpressive failed to find 

momentum, confirming persistent selling 

pressures. Next meaningful support is located at 

0.7449 (13/01/2017 low). 

• In the long-term, we are waiting for further 

signs that the current downtrend is ending. Key 

supports stand at 0.6009 (31/10/2008 low) . A 

break of the key resistance at 0.8295 (15/01/2015 

high) is needed to invalidate our long-term 

bearish view.

(By Peter Rosenstreich )

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