(08 MAY 2017)AUD / USD:Wide-open for further decline.

(08 MAY 2017)AUD / USD:Wide-open for further decline.

8 May 2017, 14:06
Jiming Huang
0
11

AUD

Wide-open for further decline.

• AUD/USD is trading below 0.7500. 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). Expected to show 

further weakness. 

• 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 Yann Quelenn )

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