AUD/USD is trading lower. Yet, we continue favour further slight strengthening. Hourly support is given at 0.7491 (02/08/2016 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.

Daily Technical Report