Daily Pivots: (S1) 0.6818; (P) 0.6853; (R1) 0.6877; More...
Intraday bias in AUD/USD remains neutral for the moment. Further rally is still in favor as long as 0.6823 resistance turned support holds. Above 0.6941 will resume the rise from 0.6348 to 100% projection of 0.6348 to 0.6823 from 0.6621 at 0.7096. However, firm break of 0.6823 will indicate rejection by 0.6941 medium term fibonacci level. Intraday bias will be turned back to the downside for 55 D EMA (now at 0.6742) and possibly below.
In the bigger picture, overall, price actions from 0.6169 (2022 low) are seen as a medium term corrective pattern, with rise from 0.6269 as the third leg. Firm break of 0.6870 resistance will target 100% projection of 0.6269 to 0.6870 from 0.6340 at 0.6941, and then 138.2% projection at 0.7179. This will now remain the favored case as long as 0.6621 support holds.
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