(11 JUNE 2018)AUD / USD:Weak bounce.

11 June 2018, 14:27
Jiming Huang
0
21
aud

Weak bounce.

(By Peter Rosenstreich)

• AUD/USD has weakened near the resistance at

0.7652 breaking the hourly support at 0.7595

(07/06/2018 low). Break of the strong resistance

at 0.7917 (14/03/2018 high) is needed to

invalidate the current short-term bearish bias.

Hourly support remains at 0.7412 (09/05/2018

low). The technical structure suggests short-term

upward moves.

• In the long-term, the upward trend slows down

after failing to reach key resistance at 0.8164

(14/05/2015 low). Key support stands at 0.6011

(28/10/2008 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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