(12 JUNE 2017)AUD / USD:Short-term consolidation.

(12 JUNE 2017)AUD / USD:Short-term consolidation.

12 June 2017, 14:31
Jiming Huang
0
24

aud

Short-term consolidation.

• AUD/USD is pushing higher since the pair has 

failed to reach hourly support given at 0.7329 

(09/05/2017 low). As long as prices remain below 

resistance at 0.7608 (17/04/2017 high), there are 

nonetheless strong downside risks. 

• 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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