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AUD/USD - Bouncing on The Rising Trendline

AUD/USD is bouncing on the rising trendline at 0.7957 (intraday low). Hourly resistance can be found at 0.8164 (14/05/2015 high) and hourly support can be found at 0.7876 (11/05/2015 low).

In the long-term, there is no sign to suggest the end of the current downtrend. Key supports stand at 0.7451 (18/05/2009 low) and 0.7000 (psychological threshold). A break of the key resistance at 0.8295 (15/01/2015 high) is needed to invalidate our long-term bearish view.

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