AUD/USD is consolidating around 6-year-low at 0.7372 (08/07/2015 low). The pair is likely to decrease again. Hourly resistance is given at 0.7739 (01/07/2015 high).

In the long-term, there is no sign to suggest the end of the current downtrend. Key supports stand at 0.6009 (31/10/2008 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. In addition, we still note that the pair remains well below the 200-dma which confirms selling pressures.

Daily Technical Report