(04 SEPTEMBER 2017)AUD / USD:Rising towards the strong resistance at  0.7986.

(04 SEPTEMBER 2017)AUD / USD:Rising towards the strong resistance at 0.7986.

4 September 2017, 14:02
Jiming Huang
0
14

aud


Rising towards the strong resistance at 

0.7986. 

(By Peter Rosenstreich)

• AUD/USD has bounced off uptrend support, 

opening the way for a test of strong resistance at 

0.7986. Hourly support can be found at 0.7786 

(18/07/2017 low). Hourly resistance is given at 

0.8066 (27/07/2017 high). Expected to further 

consolidate. 

• In the long-term, the trend is largely negative 

since 2011. Key supports stands 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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