Recovery In AUD/USD

Technical Reports

Trading is neutral, as the pair recovered after reaching 0.7359. Correction from 0.7309 could widen with another growth through resistance 0.7483. Pivot points are at: (S1) 0.7372; (P) 0.7396; (R1) 0.7432.

Upside should be limited below resistance 0.7676. Overcoming of 0.7328 cluster support (61.8% retracement of 0.6826 to 0.8135 at 0.7326) will widen the drop from 0.8135 to support 0.7158.

A medium term recoil from 0.6826 is correction, which should be completed at 0.8135. Deeper fall is possible to retest minimum 0.6826. This will remain the favored case while resistance 0.7676 keeps.