AUD/USD: Further Growth is Not Excluded

Technical Reports

Stance of trading is still neutral, as the pair is staying in a range of 0.7725/7809. Further increase is expected while minor support 0.7725 keeps. Pivot points are at: (S1) 0.7761; (P) 0.7772; (R1) 0.7792.

Trading above 0.7809 will aline resistance 0.7915, and overcoming of that resistance will confirm completion of the fall from 0.8135. Trading below 0.7725 will bring retesting of a minimum 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, and the pair will aline minimum 0.6826 in a medium term.