AUD/USD is trading sideways at 0.79 after its short-term bullish momentum, close to hourly resistance at 0.7999 (17/01/2018 high). Hourly support remains at 0.7638 (15/12/2017 low). The technical structure suggests further short-term sideways moves.
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.
. Hourly support remains at 0.7638 (15/12/2017 low). The technical structure suggests further short-term sideways moves.){kind=link}