Continuation of Growth in AUD/USD is Expected
Trading is neutral, as the pair stays in consolidation from 0.8124. Pivot points are at: (S1) 0.7917; (P) 0.7945; (R1) 0.7964.
Further growth in the pair is expected. Overcoming of 0.7807 will argue a short term trend reversal and trading will back on the downside towards key support 0.7328. Trading above 0.8124 will target 100% projection of 0.6826 to 0.7833 from 0.7328 at 0.8335.
Growth from medium term bottom 0.6826 goes on. Break of 55 month EMA (now at 0.8090) will target 38.2% retracement of 1.1079 to 0.6826 at 0.8451. Overcoming of support 0.7807 will point out completion of the recoil.