Trend Reversal in AUD/USD

Technical Reports

Trading is on the upside for resistance 0.7915, as the pair increases to maximum 0.7796. Break of minor resistance 0.7784 points out a near term trend reversal. Pivot points are at: (S1) 0.7738; (P) 0.7754; (R1) 0.7771.

Overcoming of resistance 0.7915 will confirm completion of a decline from 0.8135. Trading below minor support 0.7737 will back to the downside for 0.7642.

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.