(03 JULY 2017)AUD / USD:Consolidating.

(03 JULY 2017)AUD / USD:Consolidating.

3 July 2017, 13:41
Jiming Huang
0
12

aud


Consolidating.

(By Yann Quelenn )

• AUD/USD's technical structure is bullish since 

early May. Recovery bounce near former 

resistance at 0.7636 is gaining momentum. The 

pair is heading towards strong resistance at 

0.7750 (21/03/2017 high). 

• 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.

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