Correction in AUD/USD Extends
Trading is neutral, as the correction from 0.8124 prolongs. Pivot points are at: (S1) 0.7848; (P) 0.7898; (R1) 0.7937.
Further growth in the pair is expected. Overcoming of 0.7807 will argue a short term trend reversal and trading will back to the downside. 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.