Daily Pivots: (S1) 0.7649; (P) 0.7703; (R1) 0.7731; More…

Intraday bias in AUD/USD remains neutral at this point as consolidation from 0.7671 temporary low might extend. With upside limited well below 0.7915 resistance, near term outlook remains bearish. Break of 0.7671 will resume whole decline from 0.8135 and target 0.7500 key support level next. However, break of 0.7915 resistance will indicate near term reversal and turn focus back to 0.8135 high instead.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. It might still extend higher but 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. On the downside, break of 0.7500 support will now be an important signal that such corrective rebound is completed. In that case, AUD/USD would be heading back to 0.6826 low in medium term.

Daily Pivots: (S1) 0.7710; (P) 0.7730; (R1) 0.7768; More…

Intraday bias in AUD/USD remains neutral at this point as consolidation from 0.7671 temporary continues. With upside limited well below 0.7915 resistance, near term outlook remains bearish. Break of 0.7671 will resume whole decline from 0.8135 and target 0.7500 key support level next. However, break of 0.7915 resistance will indicate near term reversal and turn focus back to 0.8135 high instead.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. It might still extend higher but 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. On the downside, break of 0.7500 support will now be an important signal that such corrective rebound is completed. In that case, AUD/USD would be heading back to 0.6826 low in medium term.

Daily Pivots: (S1) 0.7672; (P) 0.7708; (R1) 0.7729; More…

AUD/USD continues to stay in consolidation above 0.7671 temporary low and intraday bias remains neutral. Near term outlook stays bearish with 0.7915 resistance intact and fall from 0.8135 is expected to extend. Break of 0.7671 will turn bias to the downside for 0.7500 key support level next. However, break of 0.7915 resistance will indicate near term reversal and turn focus back to 0.8135 high instead.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. It might still extend higher but 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. On the downside, break of 0.7500 support will now be an important signal that such corrective rebound is completed. In that case, AUD/USD would be heading back to 0.6826 low in medium term.

AUD/USD edged lower to 0.7671 last week but formed as temporary bottom there and recovered. Initial bias remains neutral this week first with bearish near term outlook. Break of 0.7671 will resume whole decline from 0.8135 and target 0.7500 key support level next.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. It might still extend higher but 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. On the downside, break of 0.7500 support will now be an important signal that such corrective rebound is completed. In that case, AUD/USD would be heading back to 0.6826 low in medium term.

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) 0.7657; (P) 0.7721; (R1) 0.7754; More…

Intraday bias in AUD/USD remains neutral at this point. The pair is staying well inside near term falling channel. And prior recovery was limited well below 0.7915 resistance. Hence, outlook stays bearish and deeper decline is expected. Below 0.76171 will turn bias to the downside and resume whole fall from 0.8135 to 0.7500 key support level.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. It might still extend higher but 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. On the downside, break of 0.7500 support will now be an important signal that such corrective rebound is completed. In that case, AUD/USD would be heading back to 0.6826 low in medium term.

Daily Pivots: (S1) 0.7698; (P) 0.7739; (R1) 0.7805; More…

AUD/USD rebounded after hitting 0.7671 and intraday bias is turned neutral first. At this point, the pair is staying in a near term falling channel. And, with 0.7915 resistance intact, deeper fall is still expected. Below 0.76171 will turn bias to the downside and resume whole fall from 0.8135 to 0.7500 key support level.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. It might still extend higher but 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. On the downside, break of 0.7500 support will now be an important signal that such corrective rebound is completed. In that case, AUD/USD would be heading back to 0.6826 low in medium term.

Daily Pivots: (S1) 0.7667; (P) 0.7693; (R1) 0.7709; More…

Loss of downside momentum as seen in 4 hour MACD suggests temporary bottoming at 0.7677. Intraday bias is turned neutral for consolidation. Stronger recovery could be seen. But upside should be limited well below 0.7915 resistance to bring fall resumption. Below 0.7677 will turn bias back to the downside to extend the decline from 0.8135 to 0.7500 key support.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. It might still extend higher but 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. On the downside, break of 0.7500 support will now be an important signal that such corrective rebound is completed. In that case, AUD/USD would be heading back to 0.6826 low in medium term.

Daily Pivots: (S1) 0.7694; (P) 0.7709; (R1) 0.7733; More…

Intraday bias in AUD/USD remains on the downside at this point. Fall from 0.7915 is part of whole decline form 0.8135 and should be targeting 0.7500 key support next. We’ll keep an eye on sign of downside acceleration to gauge the chance of breaking 0.7500. On the upside, above 0.7769 minor resistance will turn intraday bias neutral first. But outlook will remain bearish as long as 0.7915 resistance holds.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. It might still extend higher but 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. On the downside, break of 0.7500 support will now be an important signal that such corrective rebound is completed. In that case, AUD/USD would be heading back to 0.6826 low in medium term.

Daily Pivots: (S1) 0.7678; (P) 0.7740; (R1) 0.7773; More…

AUD/USD’s decline continues today and reaches as low as 0.7689 so far. Intraday bias remains on the downside for a test on 0.7500 key support next. We’ll keep an eye on sign of downside acceleration to gauge the chance of breaking 0.7500. On the upside, above 0.7769 minor resistance will turn intraday bias neutral first. But outlook will remain bearish as long as 0.7915 resistance holds.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. It might still extend higher but 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. On the downside, break of 0.7500 support will now be an important signal that such corrective rebound is completed. In that case, AUD/USD would be heading back to 0.6826 low in medium term.

AUD/USD’s rebound was limited at 0.7915 last week and reversed. Subsequent sharp fall and break of 0.7712 support indicates resumption of whole decline from 0.8135. Initial bias stays on the downside this week for 0.7500 key support next.

One of the interpretation of recent price actions is that price action from 0.7758 to 0.7915 were a three wave consolidation pattern. If that’s true, the fact that 0.7712 was well below 0.7758 indicates strong selling pressure even inside that consolidation. That is, decline from 0.7915 would then be a very powerful move that could takes out 0.7500 easily. We’ll keep an eye on it to see if there is any further downside acceleration ahead.

On the upside, above 0.7769 minor resistance will turn intraday bias neutral first. But outlook will remain bearish as long as 0.7915 resistance holds.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. It might still extend higher but 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. On the downside, break of 0.7500 support will now be an important signal that such corrective rebound is completed.

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) 0.7766; (P) 0.7825; (R1) 0.7856; More…

AUD/USD’s fall from 0.7915 extends to as low as 0.7750 so far in early US session. Break of 0.7772 minor support confirms completion of the rebound from 0.7712. More importantly, fall from 0.8135 is now resuming. Intraday bias is now on the downside for 0.7712 first. Break will pave the way to 0.7500 key support. On the upside, break of 0.7915 is now needed to indicate near term reversal. Otherwise, outlook will remain bearish in case of recovery.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. It might still extend higher but 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. On the downside, break of 0.7500 support will now be an important signal that such corrective rebound is completed.

Daily Pivots: (S1) 0.7766; (P) 0.7825; (R1) 0.7856; More…

AUD/USD failed to sustain above 0.7892 resistance and topped at 0.7915. Subsequent sharp fall now turns focus back to 0.7772 minor support. Break there will likely resume the decline from 0.8135 through 0.7712. In that case, AUD/USD should target 0.7500 key support next. On the upside, break of 0.7915 resistance will revive the case of near term reversal. And, intraday bias will be turned back to the upside for 0.8135 top.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. It might still extend higher but 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. On the downside, break of 0.7500 support will now be an important signal that such corrective rebound is completed. 

Daily Pivots: (S1) 0.7847; (P) 0.7881; (R1) 0.7912; More…

AUD/USD lost momentum after failing to stay above 0.7892 resistance. Intraday bias is turned neutral first. We’re slightly favoring the case that corrective pull back from 0.8135 has completed with three waves down to 0.7712. Further rise is expected as long as 0.7772 minor support holds. Above 0.7892 again will target 0.7988 resistance. Decisive break there will bring larger rally resumption. Nonetheless, on the downside. On the downside, below 0.7772 will turn bias to the downside for 0.7712. Break there will resume whole fall from 0.8135.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. It might still extend higher but 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. On the downside, break of 0.7500 support will now be an important signal that such corrective rebound is completed.

Daily Pivots: (S1) 0.7836; (P) 0.7867; (R1) 0.7888; More…

AUD/USD lost momentum after failing to stay above 0.7892 resistance. Intraday bias is turned neutral first. We’re slightly favoring the case that corrective pull back from 0.8135 has completed with three waves down to 0.7712. Further rise is expected as long as 0.7772 minor support holds. Above 0.7892 again will target 0.7988 resistance. Decisive break there will bring larger rally resumption. Nonetheless, on the downside. On the downside, below 0.7772 will turn bias to the downside for 0.7712. Break there will resume whole fall from 0.8135.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. It might still extend higher but 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. On the downside, break of 0.7500 support will now be an important signal that such corrective rebound is completed.

Daily Pivots: (S1) 0.7851; (P) 0.7865; (R1) 0.7885; More…

AUD/USD’s rebound from 0.7712 is still in progress and intraday bias remains on the upside. Prior break of near term trend line resistance is taken as first sign of reversal. Break of 0.7892 resistance will affirm this bullish case and target 0.7988 and above. On the downside, below 0.7772 will turn bias to the downside for 0.7712. Break there will resume whole fall from 0.8135.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. It might still extend higher but 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. On the downside, break of 0.7500 support will now be an important signal that such corrective rebound is completed.

Daily Pivots: (S1) 0.7797; (P) 0.7825; (R1) 0.7874; More…

AUD/USD’s rebound from 0.7712 extends to as high as 0.7866 so far today. As noted before, the break of f near term trend line resistance is taken as first sign of reversal. Intraday bias remains on the upside for 0.7892 minor resistance first. Break will affirm this bullish case and target 0.7988 and above. On the downside, below 0.7772 will turn bias to the downside for 0.7712. Break there will resume whole fall from 0.8135.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. It might still extend higher but 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. On the downside, break of 0.7500 support will now be an important signal that such corrective rebound is completed.

AUD/USD’s recovery from 0.7712 extended higher last week. The break of near term trend line resistance is taken as first sign of reversal. Initial bias is cautiously on the upside for 0.7892 minor resistsance Break there will affirm this bullish case and target 0.7988 and above. On the downside, below 0.7772 will turn bias to the downside for 0.7712. Break there will resume whole fall from 0.8135.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. It might still extend higher but 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. On the downside, break of 0.7500 support will now be an important signal that such corrective rebound is completed.

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) 0.7760; (P) 0.7799; (R1) 0.7825; More…

AUD/USD is still bounded in range above 0.7712 and intraday bias remains neutral. With 0.7892 minor resistance intact, near term outlook stays mildly bearish. On the downside, break of 0.7712 will extend the fall from 0.8135 towards 0.7500 key support level. However, break of 0.7892 will suggest that the pull back from 0.8135 is already completed. In such case, intraday bias will be turned back to the upside for 0.7988 and then 0.8135 again.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. It might still extend higher but 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. On the downside, break of 0.7500 support will now be an important signal that such corrective rebound is completed.

Daily Pivots: (S1) 0.7786; (P) 0.7807; (R1) 0.7846; More…

Intraday bias in AUD/USD remains neutral for consolidation above 0.7712. With 0.7892 minor resistance intact, near term outlook stays mildly bearish. On the downside, break of 0.7712 will extend the fall from 0.8135 towards 0.7500 key support level. However, break of 0.7892 will suggest that the pull back from 0.8135 is already completed. In such case, intraday bias will be turned back to the upside for 0.7988 and then 0.8135 again.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. It might still extend higher but 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. On the downside, break of 0.7500 support will now be an important signal that such corrective rebound is completed.

Daily Pivots: (S1) 0.7775; (P) 0.7808; (R1) 0.7861; More…

At this point, AUD/USD is staying in range above 0.7712 temporary low. Intraday bias remains neutral first. Near term outlook will remains mildly bearish as long as 0.7892 minor resistance holds. But still it’s limited below 0.7892 resistance. Such rebound could still be a corrective move only. Intraday bias stays neutral first. On the downside, break of 0.7712 will extend the fall from 0.8135 towards 0.7500 key support level. However, break of 0.7892 will suggest that the pull back from 0.8135 is already completed. In such case, intraday bias will be turned back to the upside for 0.7988 and then 0.8135 again.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. It might still extend higher but 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. On the downside, break of 0.7500 support will now be an important signal that such corrective rebound is completed.