Upside of AUD/USD Should be Bounded

Technical Reports

Trading is on the upside for resistance 0.7896. Growth in the pair has resumed. Pivot points are at: (S1) 0.7830; (P) 0.7848; (R1) 0.7882.

Upside should be limited by 0.7896. The pair might form a short term top. Overcoming of minor support 0.7804 will back trading to the downside.

Corrective growth from a medium term bottom 0.6826 has completed at 0.8124. Overcoming of 0.8124 will widen the growth from 0.6826 to 38.2% retracement of 1.1079 to 0.6826 at 0.8451.