Daily Pivots: (S1) 0.7604; (P) 0.7626; (R1) 0.7667; More…
Intraday bias in AUD/USD remains neutral with focus on 0.7676 minor resistance. Break there will resume the rebound from 0.7530, for 0.7848 resistance. Firm break there should confirm completion of the corrective fall from 0.8006. However, break of 0.7587 will likely resume the correction from 0.8006 through 0.7530.
In the bigger picture, whole down trend from 1.1079 (2001 high) should have completed at 0.5506 (2020 low) already. Rise from 0.5506 could either be the start of a long term up trend, or a corrective rise. Reactions to 0.8135 key resistance will reveal which case it is. But in any case, medium term rally is expected to continue as long as 0.7413 resistance turned support holds.
