Fall of AUD/USD Has Completed

Technical Reports

Trading is on the upside for retesting of a resistance 0.8135. Overcoming of minor resistance 0.7909 points out completion of the drop from 0.8135. Pivot points are at: (S1) 0.7820; (P) 0.7877; (R1) 0.7982.

Overcoming of resistance 0.8135 will renew a medium term uptrend for fibonacci level 0.8451. Downside should be contained by support from 0.7500, as there is no sign of larger trend reversal yet. Trading below 0.7758 will renew the decline to key support 0.7500.

A medium term recoil from 0.6826 is a correction, 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.