Wed, Mar 29, 2023 @ 13:25 GMT
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AUD/USD Slowly Weakening

AUD/USD is slightly falling after its short-term bullish momentum and remains near hourly resistance at 0.7999 (17/01/2018 high). Hourly support remains at 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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