(29 MAY 2017)AUD / USD:Renewed bearish pressures.

(29 MAY 2017)AUD / USD:Renewed bearish pressures.

29 May 2017, 14:14
Jiming Huang
0
19

aud

Renewed bearish pressures.

• AUD/USD is pushing lower. Hourly support is 

given at 0.7329 (09/05/2017 low). As long as 

prices remain below the resistance at 0.7608 

(17/04/2017 high), there are strong downside 

risks. Expected to move below 0.7400. 

• 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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