MFIForex

Congratulations, TradingPro.

Sign up: https://secure.tradingpro.com/links/go/15053

Riding downtrend channel.

• AUD/USD's short-term technical structure is
bearish. Hourly support can be found at 0.7786
(18/07/2017 low). Hourly resistance is given at
0.8066 (27/07/2017 high). Expected to edge
lower within downtrend channel.

• 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.

Continued short-term weakness.

• USD/CAD is having some weakness. Hourly
support is given at a distance at 1.2414
(27/07/2017 low). Expected to show continued
short-term bearish move.

• In the longer term, the pair has broken longterm
support that can be found at 1.2461
(16/03/2015 low) before bouncing back. Strong
resistance is given at 1.4690 (22/01/2016 high).
The pair should head further lower.

Strong bearish retracement.

• Bitcoin is pausing after the massive surge over
the past few days. Resistance is at all-time high
at 4480 (17/08/2017 high). Hourly support lies
very far at 2403 (26/07/2017 low). The road is
wide open for another bullish move.

• In the long-term, the digital currency has had
an exponential growth. There are decent
likelihood that the asset will consolidate above
$1500. Long-term support is given at $1464
(04/05/2017 low).