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AUD/USD - Drifting Lower

AUD/USD is making new lows confirming persistent selling pressures. Hourly resistances can now be found at 0.8467 (03/12/2014 high) and 0.8543 (02/12/2014 high). A support stands at 0.8316 (01/07/2010 low).

In the long-term, the break of the strong support at 0.8660 (24/01/2014 low) confirms the underlying long-term bearish trend and opens the way for further weakness. A strong support stands at 0.8067 (25/05/2010 low). A key resistance can be found at 0.8796 (17/11/2014 high).

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