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AUD/USD - Challenging its Recent Low at 0.7626

AUD/USD has broken the support at 0.7734 (05/02/2015 low), confirming increasing selling pressures. Monitor the test of the key support at 0.7626. An hourly resistance lies at 0.7749 (intraday high), while a key resistance stands at 0.7876 (06/02/2015 high).

In the long-term, there is no sign to suggest the end of the current downtrend. The break of the strong support area between 0.8067 (25/05/2010 low) and 0.7947 (61.8% retracement of the 2009-2011 rise) favours further weakness. 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

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