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.
