AUD/USD - Bouncing From Support At 0.7145
AUD/USD's buying pressures increase around strong support given at at 0.7145 (24/05/2016 low). Further upside is likely towards resistance at 0.7313 (19/12/2016 high).
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.