Temporary Top In AUD/USD

Technical Reports

Trading is neutral, with a temporary top at 0.7302. Further growth is expected, while minor support 0.7182 keeps. Pivot points are at: (S1) 0.7235; (P) 0.7269; (R1) 0.7290.

Overcoming of resistance 0.7314 will confirm a medium term bottoming at 0.7020 and aline 38.2% retracement of 0.8135 to 0.7020 at 0.7446. Hitting of minor support 0.7182 will indicate completion of the growth. In that case, trading will back to the downside for low 0.7020.

Break of resistance 0.7314 will indicate completion of the fall from 0.8135. 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. The correction from 0.6826 is extending with another rising leg towards 0.8135 before completion.