AUDUSD Outlook
AUD/USD Daily Report
Daily Pivots: (S1) 0.7062; (P) 0.7079; (R1) 0.7093; More...
AUD/USD's up trend resumed by breaking through 0.7093 resistance. Intraday bias is now on the upside for 100% projection of 0.5913 to 0.6706 from 0.6420 at 0.7213. On the downside, below 0.7063 minor support will turn intraday bias neutral again. But retreat should be contained above 0.6896 support to bring another rally.
In the bigger picture, current development argues that rise from 0.5913 (2024 low) is reversing whole down trend from 0.8006 (2021 high). Further rally should be seen to 61.8% retracement of 0.8006 to 0.5913 at 0.7206. This will remain the favored case as long as 0.6706 resistance turned support holds, even in case of deep pullback.
AUD/USD Daily Report
Daily Pivots: (S1) 0.7036; (P) 0.7067; (R1) 0.7126; More...
Intraday bias in AUD/USD remains neutral with focus on 0.7093 resistance. Decisive break there will resume larger up trend. Next target is 100% projection of 0.5913 to 0.6706 from 0.6420 at 0.7213. In case of another fall as the consolidation extends, downside should be contained by 38.2% retracement of 0.6420 to 0.7093 at 0.6836.
In the bigger picture, current development argues that rise from 0.5913 (2024 low) is reversing whole down trend from 0.8006 (2021 high). Further rally should be seen to 61.8% retracement of 0.8006 to 0.5913 at 0.7206. This will remain the favored case as long as 0.6706 resistance turned support holds, even in case of deep pullback.
AUD/USD Daily Report
Daily Pivots: (S1) 0.6933; (P) 0.6979; (R1) 0.7061; More...
Intraday bias in AUD/USD remains neutral at this point, and consolidations could continue below 0.7093. In case of another fall, downside should be contained by 38.2% retracement of 0.6420 to 0.7093 at 0.6836. On the upside, break of 0.7093 will extend larger up trend to 100% projection of 0.5913 to 0.6706 from 0.6420 at 0.7213 next.
In the bigger picture, current development argues that rise from 0.5913 (2024 low) is reversing whole down trend from 0.8006 (2021 high). Further rally should be seen to 61.8% retracement of 0.8006 to 0.5913 at 0.7206. This will remain the favored case as long as 0.6706 resistance turned support holds, even in case of deep pullback.
