Fall of AUD/USD Might Extend

Technical Reports

Trading stays neutral, as the pair is limited in a range of 0.7642/7784. Another drop in the pair is not ruled out, considering minor resistance 0.7784. Pivot points are at: (S1) 0.7739; (P) 0.7755; (R1) 0.7772.

The drop from 0.8135 could extend to retest key support level 0.7500 in case of break of 0.7642. Overcoming of minor resistance 0.7784 will point out a near term trend reversal. In that case, trading will back to the upside for resistance 0.7915.

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.