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AUD/USD - Short-Term Bullish

AUD/USD is trading higher. Over the medium-term, the pair is very volatile between 0.7500 and 0.7700. Key resistance is located at 0.7756 (10/08/2016 high). Hourly support is given at 0.7507 (13/10/2016 low). Expected to bounce back lower if resistance at 0.7756 stands.

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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