Daily Pivots: (S1) 0.6520; (P) 0.6545; (R1) 0.6575; More…
Intraday bias in AUD/USD is turned neutral first with a temporary low formed at 0.6513. On the downside, below 0.6513 will target 0.6457 support first. Break there will resume the fall from 0.7156 to 100% projection of 0.7156 to 0.6457 from 0.6894 at 0.6195. On the upside, above 0.6628 minor resistance will turn bias back to the upside for stronger rebound.
In the bigger picture, outlook is mixed for now as AUD/USD failed to sustain above both 55 D EMA (now at 0.6701) and 55 W EMA (now at 0.6784). On the upside, break of 0.65898 resistance will solidify the case that down trend from 0.8006 (2021 high) has already completed, and target 0.7156 resistance for confirmation. However, break of 0.6457 will likely resume the down trend through 0.6169 (2022 low).
