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
(By Yann Quelenn)