Pull Back in AUD/USD is Awaited

Technical Reports

Trading in the pair is on the upside for 61.8% projection of 0.6826 to 0.7833 from 0.7328 at 0.7950. Pivot points are at: (S1) 0.7821; (P) 0.7881; (R1) 0.7977.

Trading below minor support 0.7838 will become neutral and bring pull back. Downside of the pair should be contained by resistance 0.7711.

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.