AUD/USD’s technical structure has finally not reversed. Hourly resistance is now given at 0.8066 (27/07/2017 high). Hourly support given at 0.7875 (21/07/2017 low). Expected to show continued upside pressures.
In the long-term, we are waiting for further signs that the current downtrend is ending. Key supports stand 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.
