Drop In AUD/USD Continues

Technical Reports

Trading is still on the downside, considering minor resistance 0.7131. Running decline is part of the downtrend from 0.8135, which should aline 161.8% projection of 0.7452 to 0.7201 from 0.7361 at 0.6955 next. Pivot points are at: (S1) 0.7094; (P) 0.7112; (R1) 0.7138.

Overcoming of 161.8% projection of 0.7452 to 0.7201 from 0.7361 at 0.6955 will aline key support level at 0.6826. Trading above minor resistance 0.7131 will become neutral. Consolidation is expected before another fall.

A corrective medium term recoil from 0.6826 should be completed at 0.8135. Break of resistance 0.7361 will be the first sign of a medium term bottoming. Break of 0.6826 will aline key support 0.6008. Downtrend resumption from 1.1079 is still expected.