• 740 days Will The ECB Continue To Hike Rates?
  • 741 days Forbes: Aramco Remains Largest Company In The Middle East
  • 742 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,142 days Could Crypto Overtake Traditional Investment?
  • 1,147 days Americans Still Quitting Jobs At Record Pace
  • 1,149 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,152 days Is The Dollar Too Strong?
  • 1,152 days Big Tech Disappoints Investors on Earnings Calls
  • 1,153 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,155 days China Is Quietly Trying To Distance Itself From Russia
  • 1,155 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,159 days Crypto Investors Won Big In 2021
  • 1,159 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,160 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,162 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,163 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,166 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,167 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,167 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,169 days Are NFTs About To Take Over Gaming?
The Problem With Modern Monetary Theory

The Problem With Modern Monetary Theory

Modern monetary theory has been…

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…

  1. Home
  2. Markets
  3. Other

AUD/USD - Bearish Breakout

AUD/USD is weakening. The pair has broken the lower bound of the symmetrical triangle which suggested a downside channel. Hourly support can be found at 0.7017 (08/11/2015 low) and hourly resistance at 0.7385 (12/04/2015 high). Expected to show further weakening.

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