AUD/USD recovery resumes, the pair is trading at the 0.78 range and distances hourly support given at 0.7773 (14/02/2018 low). Hourly resistance remains at 0.7999 (17/01/2018 high). The short-term technical structure suggests further upside 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 0.6009 (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 resistance remains at 0.7999 (17/01/2018 high). The short-term technical structure suggests further upside moves.){kind=link}