AUD/USD may rise 28 - 38 pips

Pivot

0.6635

Our preference

Long positions above 0.6635 with targets at 0.6670 & 0.6680 in extension.

Alternative scenario

Below 0.6635 look for further downside with 0.6625 & 0.6615 as targets.

Comment

Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

Supports and resistances

0.6700

0.6680

0.6670

0.6642 Last

0.6635

0.6625

0.6615

Number of asterisks represents the strength of support and resistance levels.