(24 APRIL 2017):AUD / USD:Failing to find demand.

(24 APRIL 2017):AUD / USD:Failing to find demand.

24 April 2017, 14:12
Jiming Huang
0
18

AUD

Failing to find demand. 

• AUD/USD is still trying to bounce off strong 

support at 0.7473 (12/04/2017 low). However, as 

long as prices remain below the resistance at 

0.7608 (17/04/2017 high), the short-term 

technical structure is negative. Key resistance 

stands at 0.7681 (30/03/2017 high). 

• 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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