Bouncing within symmetrical triangle.
• AUD/USD has paused above key support at
0.7339 (intraday low). 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
(By Yann Quelenn)