Growth Resumption In AUD/USD

Technical Reports

Trading is on the upside, as the bounce from 0.7411 has resumed. The pair’s growth reaches maximum 0.7621. Upside should be bounded by strong resistance from 38.2% retracement of 0.8135 to 0.7144 at 0.7688. Pivot points are at: (S1) 0.7531; (P) 0.7553; (R1) 0.7590.

Overcoming of 0.7411 will point out fall resumption from 0.8135 to cluster support at 0.7328 (61.8% retracement of 0.6826 to 0.8135 at 0.7326). Trading below 0.7475 will bring retest of a minimum 0.7411.

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 points out completion of the corrective recoil at 0.8135. Downtrend resumption is not excluded.