AUD/USD Daily Forecast - 29 May

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Tuesday, May 29 2018

AUD/USD Daily Forecast - 29 May

AUD/USD has recently only been able to make marginal new highs, suggesting a potential weakening momentum. Hourly support and resistance remain at 0.7412 (09/05/2018 low) and 0.7813 (19/04/2018 high). The technical structure suggests short-term increase.

In the long-term, the upward trend slows down after failing to reach key resistance at 0.8164 (14/05/2015 low). Key support stands at 0.6009 (31/10/2008 low). A break of the key resistance at 0.8164 (14/05/2015 high) is needed to invalidate our long-term bearish view.

More in this category: « GBP/USD Daily Forecast - 28 May EUR/USD Daily Forecast - 30 May »

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