AUD/USD Update – 07/09/2017 (11:10am) – by Arjun Lakhanpal

AUD/USD Update – 07/09/2017 (11:10am):  AUD/USD is struggling to maintain a break above .8000 and is its possible that this is a false break higher. For now it stays bid above the 3 month uptrend at 0.7911, for now we are a little concerned about the lack of follow through but are unable to rule out a test of the .8065 recent high. Above the .8065 level the .8162/66 May 2015 peak and 50% retracement can be seen. Above there lies the .8295 January 2015 high. Dips lower should remain well supported by the .7903 uptrend and while above here the market remains bid.