Daily Pivots: (S1) 0.7603; (P) 0.7622; (R1) 0.7640; More…

Intraday bias in AUD/USD remains mildly on the downside for the moment. With 0.7683 minor resistance intact, deeper decline is in favor to 0.7490 support. Firm break there will confirm completion of rise from 0.7158. In such case, near term outlook will be turned bearish for 0.7158 support next. On the upside, though, above 0.7683 minor resistance will turn bias back to the upside for 0.7748 and above. At this point, we’d continue to expect strong resistance from long term retracement level at 0.7849 to limit upside.

In the bigger picture, we’re still treating price actions from 0.6826 low as a correction. And, as long as 38.2% retracement of 0.9504 to 0.6826 at 0.7849 holds, long term down trend from 1.1079 is expected to resume sooner or later. Break of 0.6826 low will target 0.6008 key support level. However, firm break of 0.7849 will indicate that rise from 0.6826 is developing into a medium term rebound, rather than a sideway pattern. In such case, stronger rise should be seen to 55 month EMA (now at 0.8169) and above.

Daily Pivots: (S1) 0.7341; (P) 0.7362; (R1) 0.7390; More…

Intraday bias in AUD/USD remains neutral as sideway trading continues above 0.7288. As long as 0.7443 resistance holds, outlook stays bearish for further decline. On the downside, break of 0.7288 will resume the fall from 0.8006 to 161.8% projection of 0.8006 to 0.7530 from 0.7890 at 0.7120 next. On the upside, break of 0.7443 will bring stronger rebound to 0.7530 support turned resistance instead.

In the bigger picture, rise from 0.5506 medium term bottom could have completed at 0.8006, after failing 0.8135 key resistance. Correction from there could target 0.6991 cluster support (38.2% retracement of 0.5506 to 0.8006 at 0.7051). We’d look for strong support from there to bring rebound. However, sustained break of this level would argue that the whole medium term trend has indeed reversed.

Daily Pivots: (S1) 0.6973; (P) 0.7010; (R1) 0.7049; More…

AUD/USD is staying in consolidation from 0.6926 and intraday bias remains neutral. As long as 0.7069 resistance holds, near term outlook stays cautiously bearish and deeper decline is expected. On the downside, break of 0.6962 will resume the fall from 0.7295 to 100% projection of 0.7295 to 0.7003 from 0.7205 at 0.6913. Decisive break there will indicate further downside acceleration and pave the way to retest 0.6722 low. However, considering bullish convergence condition in 4 hour MACD, firm break of 0.7069 will indicate near term bottoming and turn bias back to the upside for 0.7205 resistance and above.

In the bigger picture, with 0.7393 key resistance intact, medium term outlook remains bearish. The decline from 0.8135 (2018 high) is seen as resuming long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 (2016 low) will confirm this bearish view and resume the down trend to 0.6008 (2008 low). However, firm break of 0.7393 will argue that fall from 0.8135 has completed. And corrective pattern from 0.6826 has started the third leg, targeting 0.8135 again.

Daily Pivots: (S1) 0.6849; (P) 0.6884; (R1) 0.6907; More…

Intraday bias in AUD/USD remains on the downside at this point. Fall from 0.7295 is resuming and further fall should be seen back to 0.6722 low. On the upside, break of 0.6918 will delay the bearish case and turn intraday bias neutral for more consolidation first.

In the bigger picture, with 0.7393 key resistance intact, medium term outlook remains bearish. The decline from 0.8135 (2018 high) is seen as resuming long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 (2016 low) will confirm this bearish view and resume the down trend to 0.6008 (2008 low). However, firm break of 0.7393 will argue that fall from 0.8135 has completed. And corrective pattern from 0.6826 has started the third leg, targeting 0.8135 again.

Daily Pivots: (S1) 0.6531; (P) 0.6565; (R1) 0.6582; More…

Intraday bias in AUD/USD remains on the downside as fall from 0.6689 short term top is in progress. Deeper decline would be seen to 55 D EMA (now at 0.6489). On the upside, above 0.6596 minor resistance will turn intraday bias neutral first. But risk is mildly on the downside as long as 0.6689 resistance holds, in case of recovery.

In the bigger picture, there is no confirmation that down trend from 0.8006 (2021 high) has completed. price actions from 0.6169 (2022 low) could be just a medium term corrective pattern, with rise from 0.6269 as the third leg. For now, range trading should be seen between 0.6169 and 0.7156 (2023 high), until further developments.

Daily Pivots: (S1) 0.7057; (P) 0.7082; (R1) 0.7100; More…

Intraday bias in AUD/USD remains neutral as it’s staying in range of 0.7056/7168. On the downside, break of 0.7056 minor support will turn bias to the downside for 0.7003 first. Break will resume the whole decline from 0.7295. On the upside above 0.7168 will resume the rebound from 0.7003 towards 0.7295 high instead.

In the bigger picture, as long as 0.7393 resistance holds, we’d treat fall from 0.8135 as resuming long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 (2016 low) will confirm this bearish view and resume the down trend to 0.6008 (2008 low). However, firm break of 0.7393 will argue that fall from 0.8135 has completed. And corrective pattern from 0.6826 has started the third leg, targeting 0.8135 again.

Daily Pivots: (S1) 0.7158; (P) 0.7182; (R1) 0.7219; More…

AUD/USD is still staying in range below 0.7247 and intraday bias remains neutral for the moment. Further rise would remain mildly in favor as long as 0.7050 support holds. Above 0.7247 will target 0.7313 resistance. Decisive break there argue that correction from 0.8006 has completed at 0.6966, after hitting 0.6991 key support. Outlook will be turned bullish for 0.7555 resistance next. On the downside, however, break of 0.7050 support will bring retest of 0.6966 low instead.

In the bigger picture, focus remains on 0.6991 key structural support. Sustained break there will argue that the whole up trend from 0.5506 might be finished at 0.8006, after rejection by 0.8135 long term resistance. Deeper decline would then be seen back to 61.8% retracement of 0.5506 to 0.8006 at 0.6461. Meanwhile, strong rebound from 0.6991 will retain medium term bullishness. That is, whole up trend from 0.5506 is still in progress.

Daily Pivots: (S1) 0.7037; (P) 0.7070; (R1) 0.7121; More…

Intraday bias in AUD/USD remains neutral at this point. As long as 0.7159 resistance holds, near term outlook will remain bearish and further decline is expected. Break of 0.7020 extend the down trend from 0.8135 towards 0.6826 low. However, firm break of 0.7159 will be a first sign of trend reversal, on bullish convergence condition in 4 hour MACD, and turn bias back to the upside for 0.7314 resistance.

In the bigger picture, fall from 0.8135 is tentatively treated as resuming long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 will target 0.6008 key support next (2008 low). On the upside, break of 0.7314 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook stays bearish even in case of strong rebound.

Daily Pivots: (S1) 0.7342; (P) 0.7377; (R1) 0.7399; More…

AUD/USD is still bounded in consolidation from 0.7309 and intraday bias remains neutral. 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. 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.

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) 0.7588; (P) 0.7622; (R1) 0.7650; More…

Despite today’s rebound in AUD/USD, 4 hours MACD is staying below sign line. Intraday bias is turned neutral first. As noted before, rebound from 0.7411 is seen as a correction. Hence, upside should be limited by 38.2% retracement of 0.8135 to 0.7144 at 0.7688. On the downside, below 0.7592 minor support will turn bias to the downside for 0.7475 first. Break there will likely resume larger fall through 0.7411 to 0.7328 cluster support (61.8% retracement of 0.6826 to 0.8135 at 0.7326). However, sustained break of 0.7688 will dampen our bearish view and target 61.8% retracement at 0.7585 instead.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. Prior break of 0.7500 key support suggests that such correction is completed at 0.8135. Deeper decline would be seen back to retest 0.6826 low. In case of another rise, we’d expect strong resistance from 38.2% retracement of 1.1079 to 0.6826 at 0.8451 to limit upside to bring long term down trend resumption eventually.

AUD/USD’s rebound from 0.7732 was limited at 0.7896 and turned sideway. Initial bias remains neutral this week first. On the downside, break of 0.7732 will resume the decline from 0.8124 and target medium term fibonacci level at 0.7628 first. This will also affirm the case of medium term reversal. On the upside, however, break of 0.7896 will extend the rebound to 61.8% retracement of 0.8124 to 0.7732 at 0.7974 and possibly above.

In the bigger picture, rise from 0.6826 medium term bottom is seen as corrective pattern. Current development suggests that it might be completed with three waves up to 0.8124 already. Break of 38.2% retracement of 0.6826 to 0.8124 at 0.7628 will firm this bearish case. And, decisive break of 0.7328 key cluster support (61.8% retracement at 0.7322) will confirm and bring retest of 0.6826 low. In case rise from 0.6826 resumes and extends, strong resistance should be seen at 38.2% retracement of 1.1079 to 0.6826 at 0.8451 to limit upside.

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.

Daily Pivots: (S1) 0.7995; (P) 0.8022; (R1) 0.8045; More…

AUD/USD’s staying in consolidation below 0.8124 temporary top. Intraday bias remains neutral for more corrective trading. . Overall, as long as 0.7807 support holds, near term outlook remains bullish for further rally. Above 0.8124 will target 100% projection of 0.6826 to 0.7833 from 0.7328 at 0.8335 next. However, considering bearish divergence condition in 4 hour MACD, firm break of 0.7807 will indicate near term reversal and turn bias back to the downside for 0.7328 key support.

In the bigger picture, rise from 0.6826 medium term bottom is still in progress. At this point, there is no confirmation of trend reversal yet and we’ll continue to treat such rebound as a corrective pattern. But in any case, break of 55 month EMA (now at 0.8090) will target 38.2% retracement of 1.1079 to 0.6826 at 0.8451. Break of 0.7807 support is needed to to be the first sign of completion of the rebound. Otherwise, further rise is now in favor.

Daily Pivots: (S1) 0.6471; (P) 0.6502; (R1) 0.6522; More…

Intraday bias in AUD/USD stays neutral and outlook is unchanged. While another recovery cannot be ruled out, but outlook will stay bearish as long as 0.6621 resistance holds. On the downside, break of 0.6468 will resume the fall from 0.6870, as part of the down trend from 0.7156, to 61.8% projection of 0.6870 to 0.6524 from 0.6621 at 0.6407 next.

In the bigger picture, price actions from 0.6169 (2022 low) are seen as a medium term corrective pattern to the down trend from 0.8006 (2021 high). Fall from 0.7156 (2023 high) is seen as the second leg, which might still be in progress. Overall, sideway trading could continue in range of 0.6169/7156 for some more time. But as long as 0.7156 holds, an eventual downside breakout would be mildly in favor.

Daily Pivots: (S1) 0.6727; (P) 0.6741; (R1) 0.6762; More...

Intraday bias in AUD/USD remains on the upside for the moment. Current rally should target 61.8% projection of 0.6361 to 0.6713 from 0.6619 at 0.6837. On the downside, below 0.6699 minor support will turn intraday bias neutral first. But, near term outlook will stay bullish as long as 0.6619 support holds, in case of retreat.

In the bigger picture, price actions from 0.6169 (2022 low) are seen as a medium term corrective pattern to the down trend from 0.8006 (2021 high). Fall from 0.7156 (2023 high) is seen as the second leg, which could have completed at 0.6269 already. Rise from there is seen as the third leg which is now trying to resume through 0.6870 resistance.

AUD/USD rebounded strongly after initial fall to 0.6630 last week. But upside is capped below 0.6510 resistance. Initial bias remains neutral this week and further fall is in favor. On the downside, break of 0.6330 will resume the whole decline from 0.7156 to 100% projection of 0.7156 to 0.6457 from 0.6894 at 0.6195. However, firm break of 0.6510 will confirm short term bottoming, and turn bias back to the upside.

In the bigger picture, down trend from 0.8006 (2021 high) is possibly still in progress. Decisive break of 0.6169 will target 61.8% projection of 0.8006 to 0.6169 to 0.7156 at 0.6021. This will now remain the favored case as long as 0.6894, in case of strong rebound.

In the long term picture, while fall from 0.8006 might extend lower, the structure argues that it’s merely a correction to rise from 0.5506 (2020 low). In case of downside extension, strong support should emerge above 0.5506 to bring reversal. But still, momentum of the next move will be monitored to adjust the assessment.

AUD/USD’s decline from 0.7890 resumed by takin gout 0.7408 last week. Initial bias stays on the downside this week first. Such fall is now probably correcting whole up trend from 0.5506. Next target is 161.8% projection of 0.8006 to 0.7530 from 0.7890 at 0.7120 next. On the upside, break of 0.7502 resistance will turn intraday bias neutral and bring consolidations first.

In the bigger picture, rise from 0.5506 medium term bottom could have completed at 0.8006, after failing 0.8135 key resistance. Correction from there could target 0.6991 cluster support (38.2% retracement of 0.5506 to 0.8006 at 0.7051). We’d look for strong support from there to bring rebound. However, sustained break of this level would argue that the whole medium term has indeed reversed.

In the longer term picture, rise from 0.5506 could have completed at 0.8006. But subsequent fall is now seen as a correction only. As long as 0.6991 structural support holds, we’d expect another rise through 0.8006 at a later stage. However, sustained break of 0.6991 would argue that the trend has reversed and put 0.5506 low back into radar.

Daily Pivots: (S1) 0.7479; (P) 0.7509; (R1) 0.7555; More…

AUD/USD’s rebound form 0.7439 extends higher today. But it’s limited below 0.7609 resistance and intraday bias remains neutral. At this point, we’re favoring the case that rise from 0.7158 has completed at 0.7748 already. And deeper decline is expected. Break of 0.7439 will turn bias to the downside and target a test on 0.7144/7158 support zone. At this point, there is no clear sign of larger down trend resumption yet. Hence we’ll be cautious on strong support from0.7144/58 to contain downside and bring rebound. On the upside, break of 0.7609 will argue that the fall from 0.7748 has completed. In such case, bias will be turned back to the upside for 0.7748 resistance.

In the bigger picture, we’re still treating price actions from 0.6826 low as a correction pattern. And, as long as 38.2% retracement of 0.9504 to 0.6826 at 0.7849 holds, long term down trend from 1.1079 is expected to resume sooner or later. Break of 0.6826 low will target 0.6008 key support level. However, firm break of 0.7849 will indicate that rise from 0.6826 is developing into a medium term rebound, rather than a sideway pattern. In such case, stronger rise should be seen to 55 month EMA (now at 0.8118) and above.

Daily Pivots: (S1) 0.7492; (P) 0.7517; (R1) 0.7542; More…

AUD/USD’s decline resumed by taking out 0.7472 support and reaches as low as 0.7446 so far. Intraday bias is back on the downside. Sustained trading below 0.7500 will indicate medium term reversal and target next support at 0.7328. On the upside, break of 0.7559 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. Decisive break of 0.7500 key support will suggest that such correction is completed. In that case, deeper decline would be seen back to retest 0.6826 low. In case of another rise, we’d expect strong resistance from 38.2% retracement of 1.1079 to 0.6826 at 0.8451 to limit upside to bring long term down trend resumption eventually.

Daily Pivots: (S1) 0.7647; (P) 0.7668; (R1) 0.7697; More…

AUD/USD is trying to draw support from 4 hour 55 EMA for the moment but recovery is weak. Intraday bias stays on the downside first. As noted before, rebound from 0.7490 should have completed. Deeper fall would be seen back to 0.7490 support. Break there will confirm completion of whole rise from 0.7158. On the upside, above 0.7748 will resume the rise from 0.7158. But in that case, we’d expect upside to be limited by 0.7849/50 cluster resistance to bring reversal. That level represents 61.8% projection of 0.7158 to 0.7740 from 0.7490 at 0.7850 and key long term retracement level at 0.7849.

In the bigger picture, we’re still treating price actions from 0.6826 low as a correction. And, as long as 38.2% retracement of 0.9504 to 0.6826 at 0.7849 holds, long term down trend from 1.1079 is expected to resume sooner or later. Break of 0.6826 low will target 0.6008 key support level. However, firm break of 0.7849 will indicate that rise from 0.6826 is developing into a medium term rebound, rather than a sideway pattern. In such case, stronger rise should be seek to 55 month EMA (now at 0.8169) and above.

Daily Pivots: (S1) 0.6962; (P) 0.7031; (R1) 0.7068; More…

Intraday bias in AUD/USD remains on the downside with focus on 0.6991 key structural support. Sustained break there will carry larger bearish implication. Next target is 100% projection of 0.7890 to 0.7105 from 0.7555 at 0.6770. On the upside, break of 0.7172 resistance will indicate short term bottoming and bring stronger rebound.

In the bigger picture, sustained break of 0.6991 cluster support will argue that the who up trend from 0.5506 might be finished at 0.8006, after rejection by 0.8135 long term resistance. Deeper decline would then be seen back to 61.8% retracement of 0.5506 to 0.8006 at 0.6461). For now, medium term outlook will stay bearish as long as 0.7555 resistance holds, in case of rebound.