• 761 days Will The ECB Continue To Hike Rates?
  • 762 days Forbes: Aramco Remains Largest Company In The Middle East
  • 763 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,163 days Could Crypto Overtake Traditional Investment?
  • 1,168 days Americans Still Quitting Jobs At Record Pace
  • 1,170 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,173 days Is The Dollar Too Strong?
  • 1,173 days Big Tech Disappoints Investors on Earnings Calls
  • 1,174 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,176 days China Is Quietly Trying To Distance Itself From Russia
  • 1,176 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,180 days Crypto Investors Won Big In 2021
  • 1,180 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,181 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,183 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,184 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,187 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,188 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,188 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,190 days Are NFTs About To Take Over Gaming?
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…

Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

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 - Breaking The Upper Bound of The Downtrend Channel

AUD/USD has broken the upper 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