Daily Pivots: (S1) 0.7376; (P) 0.7396; (R1) 0.7422; More…

Intraday bias in AUD/USD remains neutral as consolidation from 0.7309 is extending. On the upside, above 0.7483 resistance will bring stronger rebound. But upside should be limited below 0.7676 resistance to bring larger fall resumption eventually. On the downside, break of 0.7309 and sustained trading below 0.7328 cluster support (61.8% retracement of 0.6826 to 0.8135 at 0.7326) will extend the fall from 0.8135 to 0.7158 support next.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move that should be completed at 0.8135. Deeper decline would be seen back to retest 0.6826 low. This will now remain the favored case as long as 0.7676 resistance holds.

AUD/USD stayed in consolidation in range of 0.7309/7483 and outlook is unchanged. Initial bias remains neutral this week first. On the upside, above 0.7483 resistance will bring strong rebound. But upside should be limited below 0.7676 resistance to bring larger fall resumption. On the downside, break of 0.7309 and sustained trading below 0.7328 cluster support (61.8% retracement of 0.6826 to 0.8135 at 0.7326) will extend the fall from 0.8135 to 0.7158 support next.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move that should be completed at 0.8135. Deeper decline would be seen back to retest 0.6826 low. This will now remain the favored case as long as 0.7676 resistance holds.

In the longer term picture, 0.6826 is seen as a long term bottom. Rise from there could either reverse the down trend from 1.1079, or just develop into a corrective pattern. At this point, we’re favoring the latter. And, as long as 38.2% retracement of 1.1079 to 0.6826 at 0.8451 holds, we’d anticipate another decline through 0.6826 at a later stage. But strong support should be seen between 0.4773 (2001 low) and 0.6008 (2008 low).

Daily Pivots: (S1) 0.7345; (P) 0.7404; (R1) 0.7436; More…

Outlook in AUD/USD remains unchanged as it’s bounded in consolidation from 0.7309. Intraday bias remains neutral at this point. In case of stronger recovery, upside should be limited below 0.7676 resistance to bring larger fall resumption. On the downside, break of 0.7309 and sustained trading below 0.7328 cluster support (61.8% retracement of 0.6826 to 0.8135 at 0.7326) will extend the fall from 0.8135 to 0.7158 support next.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move that should be completed at 0.8135. Deeper decline would be seen back to retest 0.6826 low. This will now remain the favored case as long as 0.7676 resistance holds.

Daily Pivots: (S1) 0.7408; (P) 0.7437; (R1) 0.7482; More…

AUD?USD is staying in range of 0.7309/7483 and intraday bias remains neutral. Consolidation from 0.7309 could extend further. And break of 0.7483 will bring stronger rebound. But in that case, upside should be limited below 0.7676 resistance to bring larger fall resumption. On the downside, break of 0.7309 and sustained trading below 0.7328 cluster support (61.8% retracement of 0.6826 to 0.8135 at 0.7326) will extend the fall from 0.8135 to 0.7158 support next.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move that should be completed at 0.8135. Deeper decline would be seen back to retest 0.6826 low. This will now remain the favored case as long as 0.7676 resistance holds.

Daily Pivots: (S1) 0.7373; (P) 0.7403; (R1) 0.7447; More…

AUD/USD continues to gyrate in range of 0.7309/7483 as consolidation extends. Intraday bias stays neutral and outlook is unchanged. Above 0.7483 will bring stronger rebound. But in that case, upside should below 0.7676 resistance to bring larger fall resumption. On the downside, break of 0.7309 and sustained trading below 0.7328 cluster support (61.8% retracement of 0.6826 to 0.8135 at 0.7326) will extend the fall from 0.8135 to 0.7158 support next.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move that should be completed at 0.8135. Deeper decline would be seen back to retest 0.6826 low. This will now remain the favored case as long as 0.7676 resistance holds.

Daily Pivots: (S1) 0.7355; (P) 0.7397; (R1) 0.7422; More…

AUD/USD dipped notably today but stays in range of 0.7309/7483. Intraday bias remains neutral at this point and outlook is unchanged. Price actions from 0.7309 are seen as a consolidation pattern. Above 0.7483 will bring stronger rebound. But in that case, upside should below 0.7676 resistance to bring larger fall resumption. On the downside, break of 0.7309 and sustained trading below 0.7328 cluster support (61.8% retracement of 0.6826 to 0.8135 at 0.7326) will extend the fall from 0.8135 to 0.7158 support next.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move that should be completed at 0.8135. Deeper decline would be seen back to retest 0.6826 low. This will now remain the favored case as long as 0.7676 resistance holds.

Daily Pivots: (S1) 0.7347; (P) 0.7389; (R1) 0.7461; More…

Outlook in AUD/USD is unchanged. Consolidation from 0.7309 is still in progress. Above 0.7483 will bring stronger rebound. But in that case, upside should below 0.7676 resistance to bring larger fall resumption. On the downside, break of 0.7309 and sustained trading below 0.7328 cluster support (61.8% retracement of 0.6826 to 0.8135 at 0.7326) will extend the fall from 0.8135 to 0.7158 support next.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move that should be completed at 0.8135. Deeper decline would be seen back to retest 0.6826 low. This will now remain the favored case as long as 0.7676 resistance holds.

AUD/USD was supported above 0.7309 last week and staged a strong rebound after initial fall. The development suggests that consolidation from 0.7309 is still in progress. Initial bias remains neutral this week first. On the upside, break of 0.7483 resistance will bring stronger rebound. But upside should below 0.7676 resistance to bring larger fall resumption. On the downside, break of 0.7309 and sustained trading below 0.7328 cluster support (61.8% retracement of 0.6826 to 0.8135 at 0.7326) will extend the fall from 0.8135 to 0.7158 support next.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move that should be completed at 0.8135. Deeper decline would be seen back to retest 0.6826 low. This will now remain the favored case as long as 0.7676 resistance holds.

In the longer term picture, 0.6826 is seen as a long term bottom. Rise from there could either reverse the down trend from 1.1079, or just develop into a corrective pattern. At this point, we’re favoring the latter. And, as long as 38.2% retracement of 1.1079 to 0.6826 at 0.8451 holds, we’d anticipate another decline through 0.6826 at a later stage. But strong support should be seen between 0.4773 (2001 low) and 0.6008 (2008 low).

Daily Pivots: (S1) 0.7306; (P) 0.7374; (R1) 0.7425; More…

AUD/USD failed to break 0.7309 low and recovered. Intraday bias is turned neutral first. Outlook remain bearish though and downside breakout is expected sooner or later. Decisive break of 0.7309 and sustained trading below 0.7328 cluster support (61.8% retracement of 0.6826 to 0.8135 at 0.7326) will extend the fall from 0.8135 to 0.7158 support next. On the upside, in case of another rise, upside should be limited below 0.7676 resistance to bring larger fall resumption eventually.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move that should be completed at 0.8135. Deeper decline would be seen back to retest 0.6826 low. This will now remain the favored case as long as 0.7676 resistance holds.

Daily Pivots: (S1) 0.7357; (P) 0.7383; (R1) 0.7423; More…

AUD/USD’s rebound ended very quickly and drops through 0.7342 minor support. Intraday bias is back on the downside for 0.7309 low. Break of 0.7309 and sustained trading below 0.7328 cluster support (61.8% retracement of 0.6826 to 0.8135 at 0.7326) will extend the fall from 0.8135 to 0.7158 support next. On the upside, in case of another rise, upside should be limited below 0.7676 resistance to bring larger fall resumption eventually.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move that should be completed at 0.8135. Deeper decline would be seen back to retest 0.6826 low. This will now remain the favored case as long as 0.7676 resistance holds.

Daily Pivots: (S1) 0.7357; (P) 0.7383; (R1) 0.7423; More…

AUD/USD rebounded strongly after hitting 0.7342, supported well above 0.7309 low. The development suggests that consolidation from 0.7309 is extending with another rise. Intraday bias is mildly on the upside for 0.7483 minor resistance or above. But still, upside should be limited below 0.7676 resistance to bring larger fall resumption. On the downside, break of 0.7309 and sustained trading below 0.7328 cluster support (61.8% retracement of 0.6826 to 0.8135 at 0.7326) will extend the fall from 0.8135 to 0.7158 support next.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move that should be completed at 0.8135. Deeper decline would be seen back to retest 0.6826 low. This will now remain the favored case as long as 0.7676 resistance holds.

Daily Pivots: (S1) 0.7363; (P) 0.7401; (R1) 0.7426; More…

Intraday bias in AUD/USD stays neutral for the moment. Consolidation pattern from 0.7390 could extend. But even in case of another rise through 0.7483, upside should be limited below 0.7676 resistance to bring larger fall resumption. On the downside, below 0.7359 will target 0.7309 support first. Sustained trading below 0.7328 cluster support (61.8% retracement of 0.6826 to 0.8135 at 0.7326) will extend the fall from 0.8135 to 0.7158 support next.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move that should be completed at 0.8135. Deeper decline would be seen back to retest 0.6826 low. This will now remain the favored case as long as 0.7676 resistance holds.

Daily Pivots: (S1) 0.7406; (P) 0.7424; (R1) 0.7440; More…

AUD/USD strengthens mildly today but stays in range of 0.7359/7483. Intraday bias remains neutral first. Outlook is unchanged that consolidation from 0.7309 could extend further and stronger recovery cannot be ruled out. But after all, upside should be limited below 0.7676 resistance to bring larger fall resumption. On the downside, below 0.7359 will target 0.7309 support first. Sustained trading below 0.7328 cluster support (61.8% retracement of 0.6826 to 0.8135 at 0.7326) will extend the fall from 0.8135 to 0.7158 support next.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move that should be completed at 0.8135. Deeper decline would be seen back to retest 0.6826 low. This will now remain the favored case as long as 0.7676 resistance holds.

Daily Pivots: (S1) 0.7387; (P) 0.7406; (R1) 0.7444; More…

Intraday bias in AUD/USD remains neutral first. The consolidation from 0.7309 could extend further and stronger recovery cannot be ruled out. But after all, upside should be limited below 0.7676 resistance to bring larger fall resumption. On the downside, below 0.7359 will target 0.7309 support first. Sustained trading below 0.7328 cluster support (61.8% retracement of 0.6826 to 0.8135 at 0.7326) will extend the fall from 0.8135 to 0.7158 support next.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move that should be completed at 0.8135. Deeper decline would be seen back to retest 0.6826 low. This will now remain the favored case as long as 0.7676 resistance holds.

AUD/USD dropped notably after edging higher to 0.7483 last week. But downside was contained well above 0.7309 low as the pair recovered. Initial bias is neutral this week first. The consolidation from 0.7309 could extend further and above 0.7483 will bring stronger rise. But even in that case, upside should be limited below 0.7676 resistance to bring larger fall resumption. On the downside, below 0.7359 will target 0.7309 support first. Sustained trading below 0.7328 cluster support (61.8% retracement of 0.6826 to 0.8135 at 0.7326) will extend the fall from 0.8135 to 0.7158 support next.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move that should be completed at 0.8135. Deeper decline would be seen back to retest 0.6826 low. This will now remain the favored case as long as 0.7676 resistance holds.

In the longer term picture, 0.6826 is seen as a long term bottom. Rise from there could either reverse the down trend from 1.1079, or just develop into a corrective pattern. At this point, we’re favoring the latter. And, as long as 38.2% retracement of 1.1079 to 0.6826 at 0.8451 holds, we’d anticipate another decline through 0.6826 at a later stage. But strong support should be seen between 0.4773 (2001 low) and 0.6008 (2008 low).

Daily Pivots: (S1) 0.7372; (P) 0.7396; (R1) 0.7432; More…

AUD/USD recovers after hitting 0.7359 and intraday bias is turned neutral first. Corrective pattern from 0.7309 could extend with another rise through 0.7483 resistance. But even in that case, upside should be limited below 0.7676 resistance to bring fall resumption eventually. On the downside, decisive break of 0.7328 cluster support (61.8% retracement of 0.6826 to 0.8135 at 0.7326) will extend the larger fall from 0.8135 to 0.7158 support next.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move that should be completed at 0.8135. Deeper decline would be seen back to retest 0.6826 low. This will now remain the favored case as long as 0.7676 resistance holds.

Daily Pivots: (S1) 0.7333; (P) 0.7397; (R1) 0.7432; More…

Intraday bias in AUD/USD remains on the downside for retesting 0.7309. As noted before, corrective recovery from there has completed at 0.7483 already. Sustained break of 0.7328 cluster support (61.8% retracement of 0.6826 to 0.8135 at 0.7326) will extend the larger fall from 0.8135 to 0.7158 support next. On the upside, above 0.7429 minor resistance will delay the bearish case and extend the correction with another rise through 0.7483. But still, upside should be limited below 0.7676 resistance to bring fall resumption eventually.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move that should be completed at 0.8135. Deeper decline would be seen back to retest 0.6826 low. This will now remain the favored case as long as 0.7676 resistance holds.

Daily Pivots: (S1) 0.7433; (P) 0.7458; (R1) 0.7487; More…

AUD/USD’s decline and break of 0.7414 minor support suggests that the corrective recovery from 0.7309 has completed at 0.7483. Intraday bias is back on the downside for retesting 0.7309 low. Decisive break of f 0.7328 cluster support (61.8% retracement of 0.6826 to 0.8135 at 0.7326) will extend the larger fall from 0.8135 to 0.7158 support next. On the upside, above 0.7483 will bring another recovery through 55 day EMA (now at 0.7503). But upside should be limited below 0.7676 resistance to bring fall resumption eventually.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move that should be completed at 0.8135. Deeper decline would be seen back to retest 0.6826 low. This will now remain the favored case as long as 0.7676 resistance holds.

Daily Pivots: (S1) 0.7434; (P) 0.7459; (R1) 0.7490; More…

AUD/USD’s rebound form 0.7309 short term bottom is still in progress and intraday bias stays on the upside for 55 day EMA (now at 0.7508) and possibly above. But upside should be limited below 0.7676 resistance to bring fall resumption. On the downside, below 0.7414 minor support will turn bias to the downside for retesting 0.7309 low first. Sustained break of 0.7328 cluster support (61.8% retracement of 0.6826 to 0.8135 at 0.7326) will extend the fall from 0.8135 to 0.7158 support next.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move that should be completed at 0.8135. Deeper decline would be seen back to retest 0.6826 low. This will now remain the favored case as long as 0.7676 resistance holds.

Daily Pivots: (S1) 0.7387; (P) 0.7416; (R1) 0.7456; More…

Intraday bias in AUD/USD remains on the upside as rebound from 0.7309 short term bottom continues. Further rally could be seen to 55 day EMA (now at 0.7508) and possibly above. But upside should be limited below 0.7676 resistance to bring fall resumption. On the downside, below 0.7414 minor support will turn bias to the downside for retesting 0.7309 low first. Sustained break of 0.7328 cluster support (61.8% retracement of 0.6826 to 0.8135 at 0.7326) will extend the fall from 0.8135 to 0.7158 support next.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move that should be completed at 0.8135. Deeper decline would be seen back to retest 0.6826 low. This will now remain the favored case as long as 0.7676 resistance holds.