Upside of AUD/USD Should be Limited

Technical Reports

Trading in the pair is neutral. Pivot points are at: (S1) 0.7800; (P) 0.7819; (R1) 0.7853.

Focus in the pair is on key near term support 0.7807, and overcoming of that level will argue a short term trend reversal. Trading above minor resistance 0.7907 will back to the upside for retesting of a maximum 0.8124.

Growth from a medium term bottom 0.6826 is a corrective. Upside of the pair should be limited be resistance from 38.2% retracement of 1.1079 to 0.6826 at 0.8451. Overcoming of 0.7328 will bring retest of minimum 0.6826.