The AUD/USD Stays Above Temporary Low

Technical Reports

Trading is neutral, as a consolidation above temporary minimum 0.7712 extends. The pair is limited below resistance 0.7892. Pivot points are at: (S1) 0.7775; (P) 0.7808; (R1) 0.7861.

The drop from 0.8135 will aline key support level 0.7500 in case of overcoming of 0.7712. Break of 0.7892 will point out completion of the pull back from 0.8135, and trading will back to the upside for 0.7988.

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.