AUD/USD Dips Lower

Technical Reports

Trading is on the downside, as running fall, which is part of the downtrend from 0.8135, should aline 100% projection of 0.7452 to 0.7201 from 0.7361 at 0.7110. Pivot points are at: (S1) 0.7156; (P) 0.7213; (R1) 0.7249.

Overcoming of resistance 0.7361 will point out a short term bottoming. The next target is 161.8% projection at 0.6955. Trading above 0.7235 will become neutral.

A corrective medium term recoil from 0.6826 should be completed at 0.8135. Break of resistance 0.7452 might indicate a medium term bottoming. Downtrend resumption from 1.1079 is expected. Still, a medium term correction should be seen before downtrend resumption.