Recoil of AUD/USD Extends

Technical Reports

Trading in the pair is on the upside, as a recoil from 0.7775 prolongs higher. Further corrective increase is expected.

Overcoming of support 0.7694 will indicate completion of the recoil. Growth might extend to resistance 0.7896.

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.