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AUD/USD - Ready For Another Upside Move

AUD/USD has consolidated after breaking short-term uptrend. We continue to favour further strength. Hourly support is given at 0.7671 (intraday low). Strong resistance is given at 0.7835 (21/04/2016 high).

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.

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