• 858 days Will The ECB Continue To Hike Rates?
  • 858 days Forbes: Aramco Remains Largest Company In The Middle East
  • 860 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,259 days Could Crypto Overtake Traditional Investment?
  • 1,264 days Americans Still Quitting Jobs At Record Pace
  • 1,266 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,269 days Is The Dollar Too Strong?
  • 1,269 days Big Tech Disappoints Investors on Earnings Calls
  • 1,270 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,272 days China Is Quietly Trying To Distance Itself From Russia
  • 1,272 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,276 days Crypto Investors Won Big In 2021
  • 1,276 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,277 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,280 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,280 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,283 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,284 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,284 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,286 days Are NFTs About To Take Over Gaming?
Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

  1. Home
  2. Markets
  3. Other

AUD/USD - Downside Momentum Continues

AUD/USD is still bouncing back after breaking the lower bound implied by the medium-term downtrend channel. Hourly resistance can be found at 0.7539 (03/07/2015 high) and stronger resistance is given at 0.7739 (01/07/2015 high). Nonetheless we think that the surge is temporary and we remain bearish on the pair.

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) . 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

 

Read the Report

Back to homepage

Leave a comment

Leave a comment