AUD/USD Remains In Consolidation

Technical Reports

Trading is neutral for consolidation from 0.7040, as the pair recovered ahead of low 0.7040. Pivot points are at: (S1) 0.7063; (P) 0.7077; (R1) 0.7099.

Upside should be limited below resistance 0.7159. Overcoming of 0.7040 will point out resumption of the whole downtrend from 0.8135 to 61.8% projection of 0.7314 to 0.7040 from 0.7159 at 0.6990.

Break of resistance 0.7314 will point out a medium term bottoming. 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.