AUD/USD bounced back at 0.7759 (09/02/2018 low) and continues its ascent, heading toward resistance at 0.7884 (19/10/2017 high). Hourly support remains at 0.7638 (15/12/2017 low). The technical structure suggests further short-term increase.
In the long-term, the upward trend resumes after failing to reach key resistance at 0.8164 (14/05/2015 low). Key support 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.
pair is likely to head lower. The pairs is trading below 200 DMA.
 and continues its ascent, heading toward resistance at 0.7884 (19/10/2017 high). Hourly support remains at 0.7638 (15/12/2017 low). The technical structure suggests further short-term increase.){kind=link}