AUD/USD Update – 14/12/2017 (09:00am) – by Arjun Lakhanpal

AUD/USD Update – 14/12/2017 (09:00am): AUD strength.. On the charts, AUD/USD has eroded its 3 month downtrend at .7596, we look for gains to the 200 day ma at .7692, there is scope for .7740/.7815/.7925. The market is bouncing from its 2016-2017 uptrend which today is located at .7506. The market has strong support in this vicinity – namely the 2016-2017 uptrend line and double Fibonacci retracement at .7500-.7475 (50% retracement of the move up from the 2016 low AND the 78.6% retracement of the move seen from May 2017).