Decline in AUD/USD Has Prolonged
Trading in the pair is on the downside, as a fall from 0.8124 has widened. Focus is on key support level 0.7807. Pivot points are at: (S1) 0.7826; (P) 0.7857; (R1) 0.7879. Further growth in the pair is expected through maximum 0.8124. Overcoming of 0.7807 will argue a short term trend reversal.
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.