AUD/USD: Failing to Make a Higher High
AUD/USD has thus far failed to break the resistance at 0.8826, suggesting a waning shortterm bullish momentum. Furthermore, the technical structure is negative as long as prices remain below the resistance at 0.8888 (22/01/2014 high). Hourly supports can be found at 0.8711 and 0.8660.
The long-term technical pattern remains negative and favours a further decline towards the key support at 0.8067 (25/05/2010 low). A support can be found at 0.8316 (01/07/2010 low). A significant resistance can be found at 0.9168 (02/12/2013 high).