AUD/USD’s break of 0.7228 resistance turned support suggests that corrective rebound from 0.7084 has completed at 0.7314 already. Initial bias stays on the downside for 0.7143 support first. Break should resume whole decline from 0.8135 through 0.7804 support. In case of another rise, upside should be limited well below 0.7361 resistance to complete the correction and bring down trend resumption.

In the bigger picture, rebound from 0.6826 (2016 low) is seen as a corrective move that should be completed at 0.8135. Fall from there would extend to have a test on 0.6826. There is prospect of resuming long term down trend from 1.1079 (2011 high). Current downside momentum as seen in weekly MACD support this bearish case. Firm break of 0.6826 will target 0.6008 key support next (2008 low). On the upside, break of 0.7361 resistance, however, argues that a medium term bottom is possibly in place, and stronger rebound could follow. We’ll assess the medium term outlook later if this happens.

In the longer term picture, the corrective structure of rebound from 0.6826 (2016 low) to 0.8135, and the failure to break 38.2% retracement of 1.1079 (2011 high) to 0.6826 at 0.8451, carry bearish implications. AUD/USD was also rejected by 55 month EMA. Now, the down trend from 1.1079 is in favor to extend. On break of 0.6826, next target will be 61.8% projection of 1.1079 to 0.6826 from 0.8135 at 0.5507.

Daily Pivots: (S1) 0.7183; (P) 0.7226; (R1) 0.7248; More…

Intraday bias in AUD/USD remains on the downside for 0.7143 support. As noted before, whole corrective rebound from 0.7084 has completed at 0.7314. Break of 0.7143 will likely resume larger down trend from 0.8135 through 0.7084 low. On the upside, in case of another rise, upside should be limited below 0.7361 resistance to complete the correction and bring down trend resumption.

In the bigger picture, rebound from 0.6826 (2016 low) is seen as a corrective move that should be completed at 0.8135. Fall from there would extend to have a test on 0.6826. There is prospect of resuming long term down trend from 1.1079 (2011 high). Current downside momentum as seen in weekly MACD support this bearish case. Firm break of 0.6826 will target 0.6008 key support next (2008 low). On the upside, break of 0.7361 resistance, however, argues that a medium term bottom is possibly in place, and stronger rebound could follow. We’ll assess the medium term outlook later if this happens.

Daily Pivots: (S1) 0.7227; (P) 0.7270; (R1) 0.7301; More…

Despite spiking to 0.7314, AUD/USD quickly reversed from there. Subsequent breach of 0.7228 support turned resistance suggests that whole corrective rebound from 0.7084 has completed. Intraday bias is turned back to the downside for 0.7143 support first. Break there will likely resume larger fall from 0.8135 through 0.7084 low. On the upside, in case of another rise, upside should be limited below 0.7361 resistance to complete the correction and bring down trend resumption.

In the bigger picture, rebound from 0.6826 (2016 low) is seen as a corrective move that should be completed at 0.8135. Fall from there would extend to have a test on 0.6826. There is prospect of resuming long term down trend from 1.1079 (2011 high). Current downside momentum as seen in weekly MACD support this bearish case. Firm break of 0.6826 will target 0.6008 key support next (2008 low). On the upside, break of 0.7361 resistance, however, argues that a medium term bottom is possibly in place, and stronger rebound could follow. We’ll assess the medium term outlook later if this happens.

Daily Pivots: (S1) 0.7236; (P) 0.7250; (R1) 0.7264; More…

AUD/USD rebounds notably today but stays below 0.7303 temporary top. Intraday bias remains neutral first. On the upside, break of 0.7303 will extend the corrective rebound form 0.7804. But in such case, upside should be limited below 0.7361 resistance to complete the correction and bring down trend resumption. On the downside, below 0.7228 will turn bias back to the downside for 0.7143 first. Break there will likely resume larger fall from 0.8135 through 0.7084 low. However, sustained break of 0.7361 will carry larger bullish implication.

In the bigger picture, rebound from 0.6826 (2016 low) is seen as a corrective move that should be completed at 0.8135. Fall from there would extend to have a test on 0.6826. There is prospect of resuming long term down trend from 1.1079 (2011 high). Current downside momentum as seen in weekly MACD support this bearish case. Firm break of 0.6826 will target 0.6008 key support next (2008 low). On the upside, break of 0.7361 resistance, however, argues that a medium term bottom is possibly in place, and stronger rebound could follow. We’ll assess the medium term outlook later if this happens.

Daily Pivots: (S1) 0.7240; (P) 0.7261; (R1) 0.7272; More…

At this point, AUD/USD is staying above 0.7228 resistance turned support and intraday bias remains neutral first. Above 0.7303 will extend the corrective rebound form 0.7804. But upside should be limited below 0.7361 resistance to complete the correction and bring down trend resumption. On the downside, below 0.7228 will turn bias back to the downside for 0.7143 first. Break there will likely resume larger fall from 0.8135 through 0.7084 low. However, sustained break of 0.7361 will carry larger bullish implication.

In the bigger picture, rebound from 0.6826 (2016 low) is seen as a corrective move that should be completed at 0.8135. Fall from there would extend to have a test on 0.6826. There is prospect of resuming long term down trend from 1.1079 (2011 high). Current downside momentum as seen in weekly MACD support this bearish case. Firm break of 0.6826 will target 0.6008 key support next (2008 low). On the upside, break of 0.7361 resistance, however, argues that a medium term bottom is possibly in place, and stronger rebound could follow. We’ll assess the medium term outlook later if this happens.

Daily Pivots: (S1) 0.7266; (P) 0.7285; (R1) 0.7307; More…

Intraday bias in AUD/USD remains neutral for the moment. On the upside, above 0.7303 will extend the corrective rise from 0.7084. But upside should be limited below 0.7361 resistance to complete the correction and bring down trend resumption. On the downside, below 0.7228 resistance turned support will turn bias back to the downside for 0.7143 first. Break there will likely resume larger fall from 0.8135 through 0.7084 low. However, sustained break of 0.7361 will carry larger bullish implication.

In the bigger picture, rebound from 0.6826 (2016 low) is seen as a corrective move that should be completed at 0.8135. Fall from there would extend to have a test on 0.6826. There is prospect of resuming long term down trend from 1.1079 (2011 high). Current downside momentum as seen in weekly MACD support this bearish case. Firm break of 0.6826 will target 0.6008 key support next (2008 low). On the upside, break of 0.7361 resistance, however, argues that a medium term bottom is possibly in place, and stronger rebound could follow. We’ll assess the medium term outlook later if this happens.

AUD/USD’s corrective rebound from 0.7804 extended to 0.7303 last week but formed a temporary top there. Initial bias is neutral this week first. While further rise cannot be ruled out, upside should be limited well below 0.7361 resistance to complete the correction and bring down trend resumption. On the downside, below 0.7228 resistance turned support will turn bias back to the downside for 0.7143 first. Break there will likely resume larger fall from 0.8135 through 0.7084 low. However, sustained break of 0.7361 will carry larger bullish implication.

In the bigger picture, rebound from 0.6826 (2016 low) is seen as a corrective move that should be completed at 0.8135. Fall from there would extend to have a test on 0.6826. There is prospect of resuming long term down trend from 1.1079 (2011 high). Current downside momentum as seen in weekly MACD support this bearish case. Firm break of 0.6826 will target 0.6008 key support next (2008 low). On the upside, break of 0.7361 resistance, however, argues that a medium term bottom is possibly in place, and stronger rebound could follow. We’ll assess the medium term outlook later if this happens.

In the longer term picture, the corrective structure of rebound from 0.6826 (2016 low) to 0.8135, and the failure to break 38.2% retracement of 1.1079 (2011 high) to 0.6826 at 0.8451, carry bearish implications. AUD/USD was also rejected by 55 month EMA. Now, the down trend from 1.1079 is in favor to extend. On break of 0.6826, next target will be 61.8% projection of 1.1079 to 0.6826 from 0.8135 at 0.5507.

Daily Pivots: (S1) 0.7264; (P) 0.7279; (R1) 0.7305; More…

AUD/USD’s rally from 0.7084 is still in progress and intraday bias stays on the upside. Current rise could target 0.7361 resistance. But we’d expect upside to be limited limited below there to bring down trend resumption. On the downside, below 0.7228 resistance turned support will turn bias back to the downside for 0.7143 first. Break there will likely resume larger fall from 0.8135 through 0.7084 low. However, sustained break of 0.7361 will carry larger bullish implication.

In the bigger picture, rebound from 0.6826 (2016 low) is seen as a corrective move that should be completed at 0.8135. Fall from there would extend to have a test on 0.6826. There is prospect of resuming long term down trend from 1.1079 (2011 high). Current downside momentum as seen in daily and weekly MACD support this bearish case. Firm break of 0.6826 will target 0.6008 key support next (2008 low). On the upside, break of 0.7361 resistance, however, argues that a medium term bottom is possibly in place, and stronger rebound could follow. We’ll assess the medium term outlook later if this happens.

Daily Pivots: (S1) 0.7223; (P) 0.7250; (R1) 0.7291; More…

Intraday bias in AUD/USD remains on the upside as the corrective rebound from 0.7084 extends. While further rally might be seen, upside should be limited well below 0.7361 resistance to bring down trend resumption. On the downside, break of 0.7143 minor support will bring retest of 0.7084 low first. Break ill resume whole decline from 0.8135. However, sustained break of 0.7361 will carry larger bullish implication.

In the bigger picture, rebound from 0.6826 (2016 low) is seen as a corrective move that should be completed at 0.8135. Fall from there would extend to have a test on 0.6826. There is prospect of resuming long term down trend from 1.1079 (2011 high). Current downside momentum as seen in daily and weekly MACD support this bearish case. Firm break of 0.6826 will target 0.6008 key support next (2008 low). On the upside, break of 0.7361 resistance, however, argues that a medium term bottom is possibly in place, and stronger rebound could follow. We’ll assess the medium term outlook later if this happens.

Daily Pivots: (S1) 0.7167; (P) 0.7195; (R1) 0.7248; More…

AUD/USD’s rebound from 0.7084 resumed by taking out 0.7228. Intraday bias is back on the upside for 55 day EMA (now at 0.7303). But still, such rebound is seen as a correction. Therefore upside should be limited well below 0.7361 resistance to bring down trend resumption. On the downside, break of 0.7143 minor support will bring retest of 0.7084 low first. Break ill resume whole decline from 0.8135. However, sustained break of 0.7361 will carry larger bullish implication.

In the bigger picture, rebound from 0.6826 (2016 low) is seen as a corrective move that should be completed at 0.8135. Fall from there would extend to have a test on 0.6826. There is prospect of resuming long term down trend from 1.1079 (2011 high). Current downside momentum as seen in daily and weekly MACD support this bearish case. Firm break of 0.6826 will target 0.6008 key support next (2008 low). On the upside, break of 0.7361 resistance, however, argues that a medium term bottom is possibly in place, and stronger rebound could follow. We’ll assess the medium term outlook later if this happens.

Daily Pivots: (S1) 0.7148; (P) 0.7172; (R1) 0.7203; More…

AUD/USD is staying in range of 0.7084/7228 and intraday bias remains neutral. Outlook is unchanged that rebound from 0.7084 short term bottom could extend through 0.7228. But it’s seen as a correction and upside should be limited well below 0.7361 resistance to bring down trend resumption. On the downside, break of 0.7084 will resume the fall from 0.8135 for key support level at 0.6826. However, sustained break of 0.7361 will carry larger bullish implication.

In the bigger picture, rebound from 0.6826 (2016 low) is seen as a corrective move that should be completed at 0.8135. Fall from there would extend to have a test on 0.6826. There is prospect of resuming long term down trend from 1.1079 (2011 high). Current downside momentum as seen in daily and weekly MACD support this bearish case. Firm break of 0.6826 will target 0.6008 key support next (2008 low). On the upside, break of 0.7361 resistance, however, argues that a medium term bottom is possibly in place, and stronger rebound could follow. We’ll assess the medium term outlook later if this happens.

Daily Pivots: (S1) 0.7130; (P) 0.7173; (R1) 0.7199; More…

Intraday bias in AUD/USD remains neutral at this point. Rebound form 0.7084 short term bottom could extend. But it’s seen as a correction and upside should be limited well below 0.7361 resistance to bring down trend resumption. On the downside, break of 0.7084 will resume the fall from 0.8135 for key support level at 0.6826. However, sustained break of 0.7361 will carry larger bullish implication.

In the bigger picture, rebound from 0.6826 (2016 low) is seen as a corrective move that should be completed at 0.8135. Fall from there would extend to have a test on 0.6826. There is prospect of resuming long term down trend from 1.1079 (2011 high). Current downside momentum as seen in daily and weekly MACD support this bearish case. Firm break of 0.6826 will target 0.6008 key support next (2008 low). On the upside, break of 0.7361 resistance, however, argues that a medium term bottom is possibly in place, and stronger rebound could follow. We’ll assess the medium term outlook later if this happens.

AUD/USD edged lower to 0.7084 last week but formed a short term bottom there and rebounded. With a temporary top in place at 0.7228, initial bias is neutral this week first. Another rise could be seen as the correction from 0.7084 extends. But upside should be limited well below 0.7361 resistance to bring down trend resumption. On the downside, break of 0.7084 will resume the fall from 0.8135 for key support level at 0.6826. However, sustained break of 0.7361 will carry larger bullish implication.

In the bigger picture, rebound from 0.6826 (2016 low) is seen as a corrective move that should be completed at 0.8135. Fall from there would extend to have a test on 0.6826. There is prospect of resuming long term down trend from 1.1079 (2011 high). Current downside momentum as seen in daily and weekly MACD support this bearish case. Firm break of 0.6826 will target 0.6008 key support next (2008 low). On the upside, break of 0.7361 resistance, however, argues that a medium term bottom is possibly in place, and stronger rebound could follow. We’ll assess the medium term outlook later if this happens.

In the longer term picture, the corrective structure of rebound from 0.6826 (2016 low) to 0.8135, and the failure to break 38.2% retracement of 1.1079 (2011 high) to 0.6826 at 0.8451, carry bearish implications. AUD/USD was also rejected by 55 month EMA. Now, the down trend from 1.1079 is in favor to extend. On break of 0.6826, next target will be 61.8% projection of 1.1079 to 0.6826 from 0.8135 at 0.5507.

Daily Pivots: (S1) 0.7115; (P) 0.7149; (R1) 0.7205; More…

AUD/USD’s rebound from 0.7084 short term bottom is still in progress and intraday bias stays mildly on the upside. Further rise could be seen to 55 day EMA (now at 0.7313). But upside should be limited well below 0.7361 resistance to bring down trend resumption. On the downside, break of 0.7084 will resume the fall from 0.8135 for key support level at 0.6826. However, sustained break of 0.7361 will carry larger bullish implication.

In the bigger picture, rebound from 0.6826 (2016 low) is seen as a corrective move that should be completed at 0.8135. Fall from there would extend to have a test on 0.6826. There is prospect of resuming long term down trend from 1.1079 (2011 high). Current downside momentum as seen in daily and weekly MACD support this bearish case. Firm break of 0.6826 will target 0.6008 key support next (2008 low). On the upside, break of 0.7361 resistance, however, argues that a medium term bottom is possibly in place, and stronger rebound could follow. We’ll assess the medium term outlook later if this happens.

Daily Pivots: (S1) 0.7115; (P) 0.7149; (R1) 0.7205; More…

Intraday bias in AUD/USD stays mildly on the upside at this point. A short term bottom is in place at 0.7084 on bullish convergence condition in 4 hour MACD. Further rebound could be seen towards 55 day EMA (now at 0.7322). But upside should be limited well below 0.7361 resistance to bring down trend resumption. On the downside, break of 0.7084 will resume the fall from 0.8135 for key support level at 0.6826. However, sustained break of 0.7361 will carry larger bullish implication.

In the bigger picture, rebound from 0.6826 (2016 low) is seen as a corrective move that should be completed at 0.8135. Fall from there would extend to have a test on 0.6826. There is prospect of resuming long term down trend from 1.1079 (2011 high). Current downside momentum as seen in daily and weekly MACD support this bearish case. Firm break of 0.6826 will target 0.6008 key support next (2008 low). On the upside, break of 0.7361 resistance, however, argues that a medium term bottom is possibly in place, and stronger rebound could follow. We’ll assess the medium term outlook later if this happens.

Daily Pivots: (S1) 0.7094; (P) 0.7112; (R1) 0.7138; More…

AUD/USD’s strong rebound indicates short term bottoming at 0.7084, on bullish convergence condition in 4 hour MACD. Intraday bias is back on the upside for further rebound. But for now, we’d still expect upside to be limited well below 0.7361 resistance to bring down trend resumption. On the downside, break of 0.7084 will resume the fall from 0.8135 for key support level at 0.6826. However, sustained break of 0.7361 will carry larger bullish implication.

In the bigger picture, rebound from 0.6826 (2016 low) is seen as a corrective move that should be completed at 0.8135. Fall from there would extend to have a test on 0.6826. There is prospect of resuming long term down trend from 1.1079 (2011 high). Current downside momentum as seen in daily and weekly MACD support this bearish case. Firm break of 0.6826 will target 0.6008 key support next (2008 low). On the upside, break of 0.7361 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish even in case of strong rebound.

Daily Pivots: (S1) 0.7094; (P) 0.7112; (R1) 0.7138; More…

With 0.7131 minor resistance intact, intraday bias stays mildly on the downside. Current fall is part of the down trend from 0.8135. Next target is 161.8% projection of 0.7452 to 0.7201 from 0.7361 at 0.6955. Break will target key support level at 0.6826. On the upside, above 0.7131 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another decline.

In the bigger picture, rebound from 0.6826 (2016 low) is seen as a corrective move that should be completed at 0.8135. Fall from there would extend to have a test on 0.6826. There is prospect of resuming long term down trend from 1.1079 (2011 high). Current downside momentum as seen in daily and weekly MACD support this bearish case. Firm break of 0.6826 will target 0.6008 key support next (2008 low). On the upside, break of 0.7361 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish even in case of strong rebound.

Daily Pivots: (S1) 0.7097; (P) 0.7115; (R1) 0.7131; More…

AUD/USD’s decline resumes after brief consolidation and reaches as low as 0.7086 so far. Intraday bias remains on the downside. Current fall is part of the down trend from 0.8135. Next target is 161.8% projection of 0.7452 to 0.7201 from 0.7361 at 0.6955. Break will target key support level at 0.6826. On the upside, above 0.7131 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another decline.

In the bigger picture, rebound from 0.6826 (2016 low) is seen as a corrective move that should be completed at 0.8135. Fall from there would extend to have a test on 0.6826. There is prospect of resuming long term down trend from 1.1079 (2011 high). Current downside momentum as seen in daily and weekly MACD support this bearish case. Firm break of 0.6826 will target 0.6008 key support next (2008 low). On the upside, break of 0.7361 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish even in case of strong rebound.

Daily Pivots: (S1) 0.7097; (P) 0.7115; (R1) 0.7131; More…

No change in AUD/USD’s outlook. As long as 0.7210 resistance holds, deeper decline is expected. Current down trend from 0.8135 should extend to 161.8% projection of 0.7452 to 0.7201 from 0.7361 at 0.6955. Break will target key support level at 0.6826. On the upside, break of 0.7210 will indicate short term bottoming and bring lengthier consolidation before staging another fall.

In the bigger picture, rebound from 0.6826 (2016 low) is seen as a corrective move that should be completed at 0.8135. Fall from there would extend to have a test on 0.6826. There is prospect of resuming long term down trend from 1.1079 (2011 high). Current downside momentum as seen in daily and weekly MACD support this bearish case. Firm break of 0.6826 will target 0.6008 key support next (2008 low). On the upside, break of 0.7361 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish even in case of strong rebound.

Daily Pivots: (S1) 0.7068; (P) 0.7136; (R1) 0.7175; More…

Intraday bias in AUD/USD remains on the downside at this point. Current down trend should target 161.8% projection of 0.7452 to 0.7201 from 0.7361 at 0.6955. Break will target key support level at 0.6826. On the upside, break of 0.7210 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery.

In the bigger picture, rebound from 0.6826 (2016 low) is seen as a corrective move that should be completed at 0.8135. Fall from there would extend to have a test on 0.6826. There is prospect of resuming long term down trend from 1.1079 (2011 high). Current downside momentum as seen in daily and weekly MACD support this bearish case. Firm break of 0.6826 will target 0.6008 key support next (2008 low). On the upside, break of 0.7361 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish even in case of strong rebound.