• 325 days Could Crypto Overtake Traditional Investment?
  • 330 days Americans Still Quitting Jobs At Record Pace
  • 332 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 335 days Is The Dollar Too Strong?
  • 335 days Big Tech Disappoints Investors on Earnings Calls
  • 336 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 338 days China Is Quietly Trying To Distance Itself From Russia
  • 338 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 342 days Crypto Investors Won Big In 2021
  • 342 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 343 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 345 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 346 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 349 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 350 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 350 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 352 days Are NFTs About To Take Over Gaming?
  • 353 days Europe’s Economy Is On The Brink As Putin’s War Escalates
  • 356 days What’s Causing Inflation In The United States?
  • 357 days Intel Joins Russian Exodus as Chip Shortage Digs In
What's Behind The Global EV Sales Slowdown?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

  1. Home
  2. Markets
  3. Other

AUD/USD - Pushing Lower

AUD/USD keeps on weakening after the last week's spike. Hourly support lies at 0.7170 (30/11/2015 low) and hourly resistance is located at 0.7382 (12/10/2015 high). Support implied by the lower bound of the uptrend channel has been broken. Expected to show monitoring of the support at 0.7170 to confirm a trend reversal.

In the long-term, we are waiting for further signs that the current downtrend is ending. 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