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AUD/USD Bouncing On Lower Bound Of Uptrend Channel

AUD/USD is bouncing higher below 0.8000. Hourly resistance is given at 0.8125 (08/09/2017 high). Hourly support below 0.7950 (former uptrend channel). Expected to further weaken.

In the long-term, the trend is largely negative since 2011. Key supports stands 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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