AUD/USD - Moving Higher
AUD/USD continues to improve as can be seen by the bullish breakout of the key resistance at 0.7861 (see also the declining trendline). However, another key resistance lies at 0.7913. An hourly support stands at 0.7764. Another resistance can be found at 0.8025.
In the long-term, there is no sign to suggest the end of the current downtrend. A key support stands at 0.7451 (18/05/2009 low). A break of the key resistance at 0.8295 (15/01/2015 high) is needed to invalidate our long-term bearish view.