The AUD/USD Stays in Consolidation

Technical Reports

Stance of trading is neutral, as the pair is staying in consolidation below key resistance 0.8124. Pivot points are at: (S1) 0.8021; (P) 0.8069; (R1) 0.8104.

Further growth is awaited in the pair. Overcoming of 0.8124 will renew a medium term recoil from 0.6826. The pair should target fibonacci level at 0.8451. Break of support 0.8003 will indicate a short term topping.

A medium term recoil from 0.6826 continues. Running corrective growth should target 38.2% retracement of 1.1079 to 0.6826 at 0.8451, but upside should be bounded by 0.8451. Trend reversal is expected.