(11 SEPTEMBER 2017)AUD / USD:Bearish consolidation.

(11 SEPTEMBER 2017)AUD / USD:Bearish consolidation.

11 September 2017, 13:36
Jiming Huang
0
21

aud

Bearish consolidation.

(By Yann Quelenn )

• AUD/USD is now consolidating lower after the 

pair successfully tested the rising trendline 

support at 0.7881 and has broken the hourly 

resistance at 0.8066. Hourly support can be 

found at 0.8029 (intraday high). Key resistance is 

given at 0.8164 (14/05/2015 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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