The AUD/USD is Losing Upside Momentum

Technical Reports

Trading in the pair is on the upside. Pivot points are at: (S1) 0.7921; (P) 0.7940; (R1) 0.7971.

The pair is losing upside momentum. Trading below minor support 0.7908 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.