Wide-open for further decline..
(By Yann Quelenn)
• AUD/USD continues to push lower over the
past weeks. Hourly resistance is given at 0.7883
(27/05/2017 high). The pair is approaching
support at 0.7786 (18/07/2017 low). Expected to
show continued decline.
• In the long-term, the trend is turning positive.
Key supports stands at 0.6009 (31/10/2008 low) .
A break of the key resistance at 0.8164
(14/05/2015 high) is needed to invalidate our
long-term bearish view.