Recoil of AUD/USD Has Resumed
Trading in the pair is on the upside. Recoil from 0.7500 resumed and reached maximum 0.7718. Pivot points are at: (S1) 0.7667; (P) 0.7687; (R1) 0.7720.
Further corrective increase is expected. Upside should be limited by resistance from 0.7732. Overcoming of 0.7732 will bring stronger growth through 61.8% retracement at 0.7886.
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.