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Bearish consolidation.
(By Yann Quelenn )
• AUD/USD is now consolidating lower after the
pair successfully tested the rising trendline
support at 0.7881 and has broken the hourly
resistance at 0.8066. Hourly support can be
found at 0.8029 (intraday high). Key resistance is
given at 0.8164 (14/05/2015 high). Expected to
further consolidate.
• In the long-term, the trend is largely negative
since 2011. Key supports stands 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.
