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AUD/USD Growing Selling Pressures

AUD/USD’s short-term technical structure is bearish. Hourly support can be found at 0.7786 (18/07/2017 low) has been broken. Hourly resistance is given at 0.8066 (27/07/2017 high) . Expected to show continued decline.

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.

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