Drifting lower.
(By Peter Rosenstreich)
• AUD/USD broke out of sideways range by moving below support at 0.7821. Fading supply indicated a weak test of support at 0.7786. Hourly resistance is given at 0.7897 (13/10/2017 high). Key support lies at at 0.7733 (06/10/2017 low). Expected to show continued consolidation. • 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.
