Recovery of AUD/USD Goes On

Trading in the pair in neutral, as consolidation from 0.7624 continues. Pivot points are at: (S1) 0.7644; (P) 0.7664; (R1) 0.7697.

Overcoming of 0.7624 will renew the fall from 0.8124 and target 0.7322/8. Deeper decline is possible in the pair.

Corrective growth from a medium term bottom 0.6826 has completed at 0.8124. Overcoming of 0.6826 will target 61.8% projection of 1.1079 to 0.6826 from 0.8124 at 0.5496. A long term downtrend from 1.1079 should renew.