(15 MAY 2017)AUD / USD:Bouncing within symmetrical triangle.

(15 MAY 2017)AUD / USD:Bouncing within symmetrical triangle.

15 May 2017, 13:57
Jiming Huang
0
26

aud

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 

bearish view.

(By Yann Quelenn)

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