Deeper Fall of AUD/USD is Possible

Technical Reports

Trading is on the downside for 55 day EMA (now at 0.7856). A short term top was formed at 0.8135. Pivot points are at: (S1) 0.7875; (P) 0.7960; (R1) 0.8003.

Overcoming of 0.7856 will point out completion of the growth from 0.7500 and bring a deeper decline. Trading above minor resistance 0.7986 will become neutral, but recovery should be bounded below resistance 0.8135.

A medium term recoil from 0.6826 is corrective, which might prolong. Upside should be bounded by resistance from 38.2% retracement of 1.1079 to 0.6826 at 0.8451.Overcoming of support 0.7500 will point out completion of the corrective recoil.