FX.co ★ Technical analysis and trading recommendations for the AUD / USD currency pair as of May 3, 2018

The AUD / USD currency pair, like its New Zealand dollar counterpart, draws us a similar picture, impulsive downward movement in three hundred or more points from the resistance level of 0.7800, reaching a range of 0.7500. Now, we see a slowdown near the level with an attempt to work it out, demonstrating to us an excessive reselling. Probably assume that the waiting customers will try to grab for the given coordinates, forming a corrective movement. The considered entry point of long positions is 0.7560, with the prospect of a move to 0.7630 / 0.7650.

Key Levels

Resistance - 0.7630 * 0.7800; 0.7900 * 0.8000; 0.8110.

Support for 0.7500; 0.7330.

Attention: Forecasts are not a direct guide to action!