(22 MAY 2017)AUD / USD:Monitoring symmetrical triangle.

(22 MAY 2017)AUD / USD:Monitoring symmetrical triangle.

22 May 2017, 14:07
Jiming Huang
0
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aud

Monitoring symmetrical triangle.

• AUD/USD is pushing higher since the pair 

reached hourly support at 0.7329 (09/05/2017 

low). As long as prices remain below the 

resistance at 0.7608 (17/04/2017 high), the shortterm technical structure is negative. Expected to 

show renewed 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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