Short Term Top in AUD/USD is Possible

Technical Reports

Trading is neutral, as the pair stays in a range of 0.7877/8065. Pivot points are at: (S1) 0.7946; (P) 0.7976; (R1) 0.8016.

Further increase in the pair is awaited. Break of 0.8065 will target 100% projection of 0.6826 to 0.7833 from 0.7328 at 0.8335. Overcoming of support 0.7877 will indicate a short term top.

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.