(13 NOVEMBER 2017)AUD / USD:Descending triangle.

(13 NOVEMBER 2017)AUD / USD:Descending triangle.

13 November 2017, 12:49
Jiming Huang
0
17
aud

Descending triangle.

(By Yann Quelenn)

• AUD/USD is ready to go even lower showing

that downside pressures are still lively. Hourly

resistance is given at a distance at 0.7897

(13/10/2017 high). Expected to show renewed

pressures towards key support at 0.7571

(05/07/2017 low).

• 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.

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