Daily Pivots: (S1) 0.7205; (P) 0.7250; (R1) 0.7275; More….

Intraday bias in AUD/USD stays neutral and further rise is mildly in favor as long as 0.7221 support holds. Break of 0.7339 will target 0.7413 high first. Firm break there will resume larger rally from 0.5506. On the downside, however, break of 0.7221 will turn bias back to the downside to extend the consolidation pattern from 0.7413.

In the bigger picture, while rebound from 0.5506 was strong, there is not enough evidence to confirm bullish trend reversal yet. That is, it could be just a correction inside the long term down trend. Sustained trading back below 55 week EMA (now at 0.6969) will favor the bearish case and argue that the rebound has completed. Focus will be turned back to 0.5506 low. On the upside, break of 0.7413 will extend the rise from 0.5506 to 38.2% retracement of 1.1079 (2011 high) to 0.5506 (2020 low) at 0.7635.

Daily Pivots: (S1) 0.7253; (P) 0.7286; (R1) 0.7311; More….

Intraday bias in AUD/USD remains neutral for the moment. Further rise is still mildly in favor as long as 0.7221 support holds. Break of 0.7339 will target 0.7413 high first. Firm break there will resume larger rally from 0.5506. On the downside, however, break of 0.7221 will turn bias back to the downside to extend the consolidation pattern from 0.7413.

In the bigger picture, while rebound from 0.5506 was strong, there is not enough evidence to confirm bullish trend reversal yet. That is, it could be just a correction inside the long term down trend. Sustained trading back below 55 week EMA (now at 0.6969) will favor the bearish case and argue that the rebound has completed. Focus will be turned back to 0.5506 low. On the upside, break of 0.7413 will extend the rise from 0.5506 to 38.2% retracement of 1.1079 (2011 high) to 0.5506 (2020 low) at 0.7635.

Daily Pivots: (S1) 0.7261; (P) 0.7278; (R1) 0.7302; More….

AUD/USD recovers mildly today but stays below 0.7339 temporary top. Intraday bias remains neutral first. Further rise is still mildly in favor as long as 0.7221 support holds. Break of 0.7339 will target 0.7413 high first. Firm break there will resume larger rally from 0.5506. On the downside, however, break of 0.7221 will turn bias back to the downside to extend the consolidation pattern from 0.7413.

In the bigger picture, while rebound from 0.5506 was strong, there is not enough evidence to confirm bullish trend reversal yet. That is, it could be just a correction inside the long term down trend. Sustained trading back below 55 week EMA (now at 0.6969) will favor the bearish case and argue that the rebound has completed. Focus will be turned back to 0.5506 low. On the upside, break of 0.7413 will extend the rise from 0.5506 to 38.2% retracement of 1.1079 (2011 high) to 0.5506 (2020 low) at 0.7635.

Daily Pivots: (S1) 0.7251; (P) 0.7296; (R1) 0.7324; More….

Intraday bias in AUD/USD is turned neutral with 4 hour MACD crossed below signal line. Further rise is still mildly in favor as long as 0.7221 support holds. Break of 0.7339 will target 0.7413 high first. Firm break there will resume larger rally from 0.5506. On the downside, however, break of 0.7221 will turn bias back to the downside to extend the consolidation pattern from 0.7413.

In the bigger picture, while rebound from 0.5506 was strong, there is not enough evidence to confirm bullish trend reversal yet. That is, it could be just a correction inside the long term down trend. Sustained trading back below 55 week EMA (now at 0.6969) will favor the bearish case and argue that the rebound has completed. Focus will be turned back to 0.5506 low. On the upside, break of 0.7413 will extend the rise from 0.5506 to 38.2% retracement of 1.1079 (2011 high) to 0.5506 (2020 low) at 0.7635.

Daily Pivots: (S1) 0.7237; (P) 0.7262; (R1) 0.7285; More….

Intraday bias in AUD/USD remains on the upside at this point. Current development suggests that consolidation pattern from 0.7413 has completed at 0.6991 already. Further rally should be seen to retest 0.7413 high first. Firm break there will resume larger rally from 0.5506. On the downside, however, break of 0.7221 minor support will mix up the near term outlook and turn focus back to 0.6991 support.

In the bigger picture, while rebound from 0.5506 was strong, there is not enough evidence to confirm bullish trend reversal yet. That is, it could be just a correction inside the long term down trend. Sustained trading back below 55 week EMA (now at 0.6969) will favor the bearish case and argue that the rebound has completed. Focus will be turned back to 0.5506 low. On the upside, break of 0.7413 will extend the rise from 0.5506 to 38.2% retracement of 1.1079 (2011 high) to 0.5506 (2020 low) at 0.7635.

AUD/USD’s strong rebound and break of 0.7243 resistance last week argues that consolidation pattern from 0.7413 has completed at 0.6991 already. Further rise is expected this week for retesting 0.7413 first. Firm break there will resume larger rally from 0.5506. On the downside, however, break of 0.7144 minor support will mix up the near term outlook and turn focus back to 0.6991 support.

In the bigger picture, while rebound from 0.5506 was strong, there is not enough evidence to confirm bullish trend reversal yet. That is, it could be just a correction inside the long term down trend. Sustained trading back below 55 week EMA (now at 0.6969) will favor the bearish case and argue that the rebound has completed. Focus will be turned back to 0.5506 low. On the upside, break of 0.7413 will extend the rise from 0.5506 to 38.2% retracement of 1.1079 (2011 high) to 0.5506 (2020 low) at 0.7635.

In the longer term picture, bullish convergence condition in monthly MACD is a condition for long term bullish reversal. Yet, AUD/USD struggled to sustain above 55 month EMA (now at 0.7302). It’s also limited below 38.2% retracement of 1.1079 (2011 high) to 0.5506 (2020 low) at 0.7635. Hence, there is not enough evidence for reversal yet. Down trend from 1.1079 could still extend through 0.5506 at a later stage.

Daily Pivots: (S1) 0.7192; (P) 0.7240; (R1) 0.7335; More….

AUD/USD rises to as high as 0.7289 so far today. The break of 0.7243 resistance suggests that consolidation pattern from 0.7413 has completed at 0.6991. Intraday bias is now on the upside for retesting 0.7413 high. Firm break there will resume larger rise from 0.5506. On the downside, break of 0.7144 minor support will probably extend the consolidation pattern with another fall instead.

In the bigger picture, while rebound from 0.5506 was strong, there is not enough evidence to confirm bullish trend reversal yet. That is, it could be just a correction inside the long term down trend. Sustained trading back below 55 week EMA (now at 0.6927) will favor the bearish case and argue that the rebound has completed. Focus will be turned back to 0.5506 low. On the upside, break of 0.7413 will extend the rise from 0.5506 to 38.2% retracement of 1.1079 (2011 high) to 0.5506 (2020 low) at 0.7635.

Daily Pivots: (S1) 0.7071; (P) 0.7123; (R1) 0.7218; More….

Intraday bias in AUD/USD remains neutral at this point. On the upside, sustained break of 0.7243 resistance should confirm completion of the consolidation pattern from 0.7413. Intraday bias will be turned back to the upside for retesting 0.7413 high first. On the downside, through, break of 0.6991 will resume the correction to 38.2% retracement of 0.5506 to 0.7413 at 0.6685.

In the bigger picture, while rebound from 0.5506 was strong, there is not enough evidence to confirm bullish trend reversal yet. That is, it could be just a correction inside the long term down trend. Sustained trading back below 55 week EMA (now at 0.6927) will favor the bearish case and argue that the rebound has completed. Focus will be turned back to 0.5506 low. On the upside, break of 0.7413 will extend the rise from 0.5506 to 38.2% retracement of 1.1079 (2011 high) to 0.5506 (2020 low) at 0.7635.

Daily Pivots: (S1) 0.7071; (P) 0.7123; (R1) 0.7218; More….

AUD/USD’s strong rebound from 0.6991 was followed by equally steep retreat. Intraday bias is turned neutral. On the upside, firm break of 0.7243 will argue that the corrective pattern from 0.7413 has completed. Intraday bias will be turned back to the upside for resting 0.7413. On the downside, firm break of 0.6991 will resume the correction to 38.2% retracement of 0.5506 to 0.7413 at 0.6685.

In the bigger picture, while rebound from 0.5506 was strong, there is not enough evidence to confirm bullish trend reversal yet. That is, it could be just a correction inside the long term down trend. Sustained trading back below 55 week EMA (now at 0.6927) will favor the bearish case and argue that the rebound has completed. Focus will be turned back to 0.5506 low. On the upside, break of 0.7413 will extend the rise from 0.5506 to 38.2% retracement of 1.1079 (2011 high) to 0.5506 (2020 low) at 0.7635.

Daily Pivots: (S1) 0.7013; (P) 0.7035; (R1) 0.7079; More….

AUD/USD recovered after hitting 0.6991 and intraday bias is turned neutral first. Near term outlook stays bearish as long as 0.7157 resistance holds. Break of 0.6991 will resume the corrective fall from 0.7413 to 38.2% retracement of 0.5506 to 0.7413 at 0.6685. However, firm break of 0.7157 will argue that the correction has completed and turn bias back to the upside for 0.7243 resistance first.

In the bigger picture, while rebound from 0.5506 was strong, there is not enough evidence to confirm bullish trend reversal yet. That is, it could be just a correction inside the long term down trend. Sustained trading back below 55 week EMA (now at 0.6927) will favor the bearish case and argue that the rebound has completed. Focus will be turned back to 0.5506 low. On the upside, break of 0.7413 will extend the rise from 0.5506 to 38.2% retracement of 1.1079 (2011 high) to 0.5506 (2020 low) at 0.7635.

Daily Pivots: (S1) 0.7003; (P) 0.7037; (R1) 0.7063; More…

AUD/USD’s break of 0.7005 support suggests resumption of the correction fall form 0.7413. Intraday bias is now on the downside for 38.2% retracement of 0.5506 to 0.7413 at 0.6685. For now, break of 0.7157 resistance is needed to indicate short term bottoming. Otherwise, further decline is in favor in case of recovery.

In the bigger picture, while rebound from 0.5506 was strong, there is not enough evidence to confirm bullish trend reversal yet. That is, it could be just a correction inside the long term down trend. Sustained trading back below 55 week EMA (now at 0.6927) will favor the bearish case and argue that the rebound has completed. Focus will be turned back to 0.5506 low. On the upside, break of 0.7413 will extend the rise from 0.5506 to 38.2% retracement of 1.1079 (2011 high) to 0.5506 (2020 low) at 0.7635.

AUD/USD edged lower last week but couldn’t sustain below 0.7005 support yet. Initial bias stays neutral this week with focus on 0.7005. Decisive break there will confirm resumption of the corrective fall from 0.7413. Deeper decline would then be seen to 38.2% retracement of 0.5506 to 0.7413 at 0.6685. For now, downside breakout will remain in favor as long as 0.7157 resistance holds, in case of recovery.

In the bigger picture, while rebound from 0.5506 was strong, there is not enough evidence to confirm bullish trend reversal yet. That is, it could be just a correction inside the long term down trend. Sustained trading back below 55 week EMA (now at 0.6927) will favor the bearish case and argue that the rebound has completed. Focus will be turned back to 0.5506 low. On the upside, break of 0.7413 will extend the rise from 0.5506 to 38.2% retracement of 1.1079 (2011 high) to 0.5506 (2020 low) at 0.7635.

In the longer term picture, bullish convergence condition in monthly MACD is a condition for long term bullish reversal. Yet, AUD/USD struggled to sustain above 55 month EMA (now at 0.7306). It’s also limited below 38.2% retracement of 1.1079 (2011 high) to 0.5506 (2020 low) at 0.7635. Hence, there is not enough evidence for reversal yet. Down trend from 1.1079 could still extend through 0.5506 at a later stage.

Daily Pivots: (S1) 0.6994; (P) 0.7035; (R1) 0.7068; More…

Immediate focus is now on 0.7005 support. Decisive break there will confirm resumption of whole corrective fall from 0.7413. Intraday bias will be turned to the downside or 38.2% retracement of 0.5506 to 0.7413 at 0.6685. In any case, near term outlook will stays cautiously bearish as long as 0.7157 resistance holds.

In the bigger picture, while rebound from 0.5506 was strong, there is not enough evidence to confirm bullish trend reversal yet. That is, it could be just a correction inside the long term down trend. Sustained trading back below 55 week EMA (now at 0.6916) will favor the bearish case and argue that the rebound has completed. Focus will be turned back to 0.5506 low. On the upside, break of 0.7413 will extend the rise from 0.5506 to 38.2% retracement of 1.1079 (2011 high) to 0.5506 (2020 low) at 0.7635.

Daily Pivots: (S1) 0.7113; (P) 0.7130; (R1) 0.7144; More…

Intraday bias in AUD/USD is staying neutral as the pair remains above 0.7005/20 support zone. on the downside. . With 0.7342 resistance intact, further decline is expected. On the downside, break of 0.7005 will resume the corrective fall from 0.7413, and target 38.2% retracement of 0.5506 to 0.7413 at 0.6685. However, firm break of 0.7243 will bring retest of 0.7413 high.

In the bigger picture, while rebound from 0.5506 was strong, there is not enough evidence to confirm bullish trend reversal yet. That is, it could be just a correction inside the long term down trend. Sustained trading back below 55 week EMA (now at 0.6916) will favor the bearish case and argue that the rebound has completed. Focus will be turned back to 0.5506 low. On the upside, break of 0.7413 will extend the rise from 0.5506 to 38.2% retracement of 1.1079 (2011 high) to 0.5506 (2020 low) at 0.7635.

Daily Pivots: (S1) 0.7113; (P) 0.7130; (R1) 0.7144; More…

Intraday bias in AUD/USD remains neutral at this point and some more consolidations could be seen. With 0.7342 resistance intact, further decline is expected. On the downside, break of 0.7005 will resume the corrective fall from 0.7413, and target 38.2% retracement of 0.5506 to 0.7413 at 0.6685. However, firm break of 0.7243 will bring retest of 0.7413 high.

In the bigger picture, while rebound from 0.5506 was strong, there is not enough evidence to confirm bullish trend reversal yet. That is, it could be just a correction inside the long term down trend. Sustained trading back below 55 week EMA (now at 0.6916) will favor the bearish case and argue that the rebound has completed. Focus will be turned back to 0.5506 low. On the upside, break of 0.7413 will extend the rise from 0.5506 to 38.2% retracement of 1.1079 (2011 high) to 0.5506 (2020 low) at 0.7635.

Daily Pivots: (S1) 0.7102; (P) 0.7124; (R1) 0.7145; More…

AUD/USD is staying in consolidation from 0.7020 and intraday bias remains neutral at this point. With 0.7342 resistance intact, further decline is expected. On the downside, break of 0.7005 will resume the corrective fall from 0.7413, and target 38.2% retracement of 0.5506 to 0.7413 at 0.6685. However, firm break of 0.7243 will bring retest of 0.7413 high.

In the bigger picture, while rebound from 0.5506 was strong, there is not enough evidence to confirm bullish trend reversal yet. That is, it could be just a correction inside the long term down trend. Sustained trading back below 55 week EMA (now at 0.6916) will favor the bearish case and argue that the rebound has completed. Focus will be turned back to 0.5506 low. On the upside, break of 0.7413 will extend the rise from 0.5506 to 38.2% retracement of 1.1079 (2011 high) to 0.5506 (2020 low) at 0.7635.

Daily Pivots: (S1) 0.7105; (P) 0.7132; (R1) 0.7162; More…

Intraday bias in AUD/USD remains neutral at this point. Further fall is mildly in favor with 0.7243 resistance intact. On the downside, break of 0.7005 will resume the corrective fall from 0.7413, and target 38.2% retracement of 0.5506 to 0.7413 at 0.6685. However, firm break of 0.7243 will bring retest of 0.7413 high.

In the bigger picture, while rebound from 0.5506 was strong, there is not enough evidence to confirm bullish trend reversal yet. That is, it could be just a correction inside the long term down trend. Sustained trading back below 55 week EMA (now at 0.6916) will favor the bearish case and argue that the rebound has completed. Focus will be turned back to 0.5506 low. On the upside, break of 0.7413 will extend the rise from 0.5506 to 38.2% retracement of 1.1079 (2011 high) to 0.5506 (2020 low) at 0.7635.

AUD/USD recovered ahead of 0.7005 last week but upside was limited well below 0.7243 resistance so far. Initial bias stays neutral this week first and further fall is mildly in favor with 0.7243 resistance intact. On the downside, break of 0.7005 will resume the corrective fall from 0.7413, and target 38.2% retracement of 0.5506 to 0.7413 at 0.6685. However, firm break of 0.7243 will bring retest of 0.7413 high.

In the bigger picture, while rebound from 0.5506 was strong, there is not enough evidence to confirm bullish trend reversal yet. That is, it could be just a correction inside the long term down trend. Sustained trading back below 55 week EMA (now at 0.6916) will favor the bearish case and argue that the rebound has completed. Focus will be turned back to 0.5506 low. On the upside, break of 0.7413 will extend the rise from 0.5506 to 38.2% retracement of 1.1079 (2011 high) to 0.5506 (2020 low) at 0.7635.

In the longer term picture, bullish convergence condition in monthly MACD is a condition for long term bullish reversal. Yet, AUD/USD struggled to sustain above 55 month EMA (now at 0.7306). It’s also limited below 38.2% retracement of 1.1079 (2011 high) to 0.5506 (2020 low) at 0.7635. Hence, there is not enough evidence for reversal yet. Down trend from 1.1079 could still extend through 0.5506 at a later stage.

Daily Pivots: (S1) 0.7093; (P) 0.7109; (R1) 0.7133; More…

Intraday bias in AUD/USD remains neutral first. On the upside, break of 0.7243 resistance will suggest that the correction from 0.7413 has completed and bring retest of this high. On the downside, through, break of 0.7005 will resume the correction to 38.2% retracement of 0.5506 to 0.7413 at 0.6685.

In the bigger picture, while rebound from 0.5506 was strong, there is not enough evidence to confirm bullish trend reversal yet. That is, it could be just a correction inside the long term down trend. Sustained trading back below 55 week EMA (now at 0.6916) will favor the bearish case and argue that the rebound has completed. Focus will be turned back to 0.5506 low. On the upside, break of 0.7413 will extend the rise from 0.5506 to 38.2% retracement of 1.1079 (2011 high) to 0.5506 (2020 low) at 0.7635.

Daily Pivots: (S1) 0.7064; (P) 0.7100; (R1) 0.7154; More…

Stronger than expected rebound in AUD/USD and break of 0.7114 minor resistance mixed up the near term outlook. On the upside, break of 0.7243 resistance will suggests that the correction from 0.7413 has completed and bring retest of this high. On the downside, through, break of 0.7005 will resume the correction to 38.2% retracement of 0.5506 to 0.7413 at 0.6685.

In the bigger picture, while rebound from 0.5506 was strong, there is not enough evidence to confirm bullish trend reversal yet. That is, it could be just a correction inside the long term down trend. Sustained trading back below 55 week EMA (now at 0.6916) will favor the bearish case and argue that the rebound has completed. Focus will be turned back to 0.5506 low. On the upside, break of 0.7413 will extend the rise from 0.5506 to 38.2% retracement of 1.1079 (2011 high) to 0.5506 (2020 low) at 0.7635.