Consolidation in AUD/USD Goes On

Trading in the pair is neutral for consolidation from 0.7988. Pivot points are at: (S1) 0.7872; (P) 0.7915; (R1) 0.7956.

Further increase in the pair is awaited. Overcoming of 0.7988 will target 100% projection 0.6826 to 0.7833 from 0.7328 at 0.8335. Decrease in the pair is possible.

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.