Resumption of Recoil in AUD/USD is Awaited

Trading in the pair is on the upside. Pivot points are at: (S1) 0.7755; (P) 0.7794; (R1) 0.7864.

Overcoming of resistance 0.7833 will point out resumption of a recoil from bottom 0.6826 Trading below minor support 0.7739 will become neutral.

Corrective recoil from 0.6826 is developing into a medium term growth. Further increase in the pair is awaited to 55 month EMA (now at 0.8100) and above. Overcoming of support 0.7328 will point out completion of the recoil.