AUDUSD rose in the short term, with the dominance of the upward correctional trend in the medium and short terms, coupled with ongoing positive pressure from the SMA for the last 50 days period, as the stock settles above the important support of 0.7652, representing the ratio 61.8% of Fibonacci retracement levels for a descending wave in the long term (from 0.8163 to 0.6826).

Therefore we expect more gains to come for the pair, as long as the support of 0.7652, targeting the resistance of 0.7877, representing the ratio 78.6% of the same retracement levels mentioned earlier.

Trend Bullish