Recovery In AUD/USD
Stance of trading is neutral with focus on minor support 0.7088. Trading above 0.7159 will point out widening of the correction. Pivot points are at: (S1) 0.7089; (P) 0.7120; (R1) 0.7150.
Hitting of minor support 0.7088 will indicate completion of the corrective growth from 0.7040. Upside should be limited below resistance 0.7314. Overcoming of 0.7040 will point out resumption of the whole downtrend from 0.8135 to 61.8% projection of 0.7676 to 0.7084 from 0.7314 at 0.6948.
Break of support turned resistance 0.7500 will point out that the correction from 0.6826 is going to extend with another rising leg before completion. The drop from 0.8135 is pre-treated as resuming long term downtrend from 1.1079. Overcoming of 0.6826 will aline key support 0.6008.