AUD/USD is bouncing off from 0.7652 low, heading along the 0.7740 range. The bearish pattern started in February 2018 is maintained. Hourly support and resistance are given at 0.7638 (15/12/2017 low) and 0.7810 (28/12/2017). The technical structure suggests short-term upward 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.
