AUD/USD bounced back at 0.7759 (09/02/2018 low) and continues its retracement, breaking resistance at 0.7884 (19/10/2017 high) and heading further up. Hourly resistance and support remain at 0.7925 (12/01/2018 high) and 0.7638 (15/12/2017 low). The technical structure suggests further short-term upside moves.
In the long-term, the upward trend resumes 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.
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