AUD/USD bearish pattern from 0.7813 (19/04/2018) pauses, the pair recovery phase from 0.7473 (01/05/2018 low) continues, approaching the 0.7530 range. Hourly resistance 0.7879 (28/02/2018 high) remains. The technical structure suggests short-term increase.
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.
