Daily Pivots: (S1) 0.6800; (P) 0.6829; (R1) 0.6847; More…

Intraday bias in AUD/USD remains neutral with focus on 0.6810 resistance turned support. Firm break should indicate completion of corrective rebound from 0.6677. Intraday bias will be turned to the downside for 0.6723 support first. Break will target 0.6670 low. On the upside in case of another rise, upside should be limited by 0.6894 resistance to bring larger down trend resumption. However, firm break of 0.6894 will dampen our bearish view and turn focus back to 0.7082 key resistance.

In the bigger picture, decline from 0.8135 (2018 high) is seen as resuming the long term down trend from 1.1079 (2011 high). Next target is 0.6008 (2008 low). On the upside, break of 0.7082 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) 0.7863; (P) 0.7893; (R1) 0.7942; More…

AUD/USD’s rally continues to as high as 0.7964 so far. The strong break of 0.7896 cluster resistance (61.8% retracement of 0.8124 to 0.7500 at 0.7886) resistance zone indicates solid upside momentum. Rise from 0.7500 could be resuming whole medium term rebound from 0.6826. Intraday bias stays on the upside for 0.8124 resistance and above first. On the downside, break of 0.7804 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

In the bigger picture, current development suggests that medium term rebound from 0.6826 is still in progress and could be resuming. Such rise could target 38.2% retracement of 1.1079 (2011 high) to 0.6826 (2016 low) at 0.8451. As such rise is seen as a corrective move, we’d expect strong resistance from 0.8451 to limit upside.

Daily Pivots: (S1) 0.7454; (P) 0.7480; (R1) 0.7501; More…

AUD/USD’s rebound from 0.7158 extends to as high as 0.7547 so far today. Intraday bias remains on the upside for the moment and further rise should be seen. Sustained trading above 61.8% retracement of 0.7777 to 0.7518 at 0.7541 will target 0.7777/7833 resistance zone. At this point, we’d still expect strong resistance from this zone to limit upside. On the downside, below 0.7448 minor support will turn bias back to the downside for 0.7144 key support level.

In the bigger picture, AUD/USD is staying inside long term falling channel and it’s likely that the down trend from 1.1079 is still in progress. Break of 0.6826 low will confirm this bearish case. We’ll be looking for bottoming sign again as it approaches 0.6008 key support level. Meanwhile, sustained break of 0.7833 resistance will be a strong sign of medium term reversal.

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Daily Pivots: (S1) 0.7888; (P) 0.7961; (R1) 0.8007; More…

At this point, AUD/USD is still bounded in range of 0.7807/8124. Intraday bias remains neutral for more consolidative trading. Deeper fall cannot be ruled out. But still, with 0.7807 support intact, near term outlook stays bearish and another rise is expected. Break of 0.8124 will turn bias to the upside and 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) 0.7042; (P) 0.7080; (R1) 0.7109; More…

AUD/USD breached 0.7056 support briefly but quickly rebounded. Upside is limited below 0.7168 so far. Intraday bias stays neutral first. On the downside, firm 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, break of 0.7168 will resume the rise from 0.7003 and turn bias to the upside for 0.7295 resistance. Break will extend the whole rebound from 0.6722 to 0.7393 key resistance level.

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) 0.7347; (P) 0.7365; (R1) 0.7396; More…

Intraday bias in AUD/USD is turned neutral with a temporary low formed at 0.7328. Some consolidations would be seen. But upside of recovery should be limited well below 0.7555 resistance and bring another fall. Break of 0.7382 will extend the decline from 0.7748 to retest 0.7144/7158 support. We’ll be cautious on bottoming there as there is no clear sign of larger down trend resumption yet. Meanwhile, firm break of 0.7555 will argue that fall from 0.7748 is completed and turn bias back to the upside.

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 0.8115) and above.

Daily Pivots: (S1) 0.7211; (P) 0.7243; (R1) 0.7295; More…

Intraday bias in AUD/USD remains neutral at this point. On the downside, below 0.7169 will target a test on 0.7105 low. Firm break there will resume whole decline from 0.8006 for 0.6991 support next. On the upside, above 0.7315 minor resistance will turn bias back to the upside for 0.7477 resistance instead.

In the bigger picture, with 0.6991 cluster support (38.2% retracement of 0.5506 to 0.8006 at 0.7051) intact, we’re seeing price action from 0.8006 as a correction only. That is, up trend from 0.5506 low would resume after the correction completes. In that case, main focus will be 0.8135 key resistance (2018 high). Sustained break there will carry larger bullish implications. However, sustained break of 0.6991 will argue that the whole medium term trend has indeed reversed.

Daily Pivots: (S1) 0.7578; (P) 0.7604; (R1) 0.7622; More….

No change in AUD/USD’s outlook. With 0.7523 minor support intact, further rise is still expected for 0.7748 resistance and above. At this point, there is no clear sign of range breakout at. Hence, we’d be cautious on topping again as it approaches medium term fibonacci level at 0.7849. Meanwhile, break of 0.7523 will argue that rebound from 0.7328 is possibly completed. In that case, intraday bias will be turned back to the downside for 0.7370 support.

In the bigger picture, we’re still treating price actions from 0.6826 low as a corrective 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 0.8116) and above.

Daily Pivots: (S1) 0.6774; (P) 0.6790; (R1) 0.6815; More…

A temporary low is formed at 0.6760 and intraday bias is turned neutral first. But overall outlook is unchanged that corrective rise from 0.6677 has completed at 0.6894. Risk continues to stay on the downside as long as 0.6894 resistance holds. On the downside, below 0.6760 will target a test on 0.6677 low. Break will resume larger down trend.

In the bigger picture, decline from 0.8135 (2018 high) is seen as resuming the long term down trend from 1.1079 (2011 high). Next target is 0.6008 (2008 low). On the upside, break of 0.7082 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) 0.6455; (P) 0.6501; (R1) 0.6551; More…

Intraday bias in AUD/USD remains neutral as consolidation from 0.6362 is extending. Stronger recovery cannot be ruled out. But upside should be limited well below 0.6698 support turned resistance. Break of 0.6362 will resume larger down trend to 100% projection of 0.7660 to 0.6680 from 0.7135 at 0.6155.

In the bigger picture, down trend form 0.8006 (2021 high) is expected to continue as long as 0.7135 resistance holds. With 61.8% retracement of 0.5506 (2020 low) to 0.8006 at 0.6461 firmly taken out, next target is 0.5506 low. Medium term momentum will now be closely monitored to gauge the chance of break of 0.5506.

Daily Pivots: (S1) 0.6590; (P) 0.6617; (R1) 0.6643; More...

No change in AUD/USD’s outlook and intraday bias stays neutral. Further rally is in favor with 0.6578 cluster support (38.2% retracement of 0.6361 to 0.6713 at 0.6579) intact. On the upside, firm break of 0.6713 will resume whole rise from 0.6361 to 0.6870 resistance next. However, sustained break of 0.6578 will dampen this bullish view, and bring deeper fall to 61.8% retracement at 0.6495.

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.

Daily Pivots: (S1) 0.7607; (P) 0.7642; (R1) 0.7662; More…

Intraday bias in AUD/USD remains on the downside for the moment. Fall from 0.7748 should target 0.7490 first. Break there will indicate completion of whole rise from 0.7158 and turn near term outlook bearish. 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 seek to 55 month EMA (now at 0.8169) and above.

Daily Pivots: (S1) 0.6588; (P) 0.6630; (R1) 0.6685; More…

Intraday bias in AUD/USD is turned neutral with current recovery, and some consolidations could be seen above 0.6573 temporary low. Upside of recovery should be limited below 0.6951 resistance to bring another fall. On the downside, break of 0.6573 will resume larger down trend to 0.6461 long term fibonacci level.

In the bigger picture, price actions from 0.8006 (2021 high) is seen more as a corrective pattern to rise from 0.5506 (2020 low). Or it could also be a bearish impulsive move. In either case, outlook will remain bearish as long as 0.7135 resistance holds. Next target is 61.8% retracement of 0.5506 to 0.8006 at 0.6461.

AUD/USD edged higher to 0.7748 last week but quickly reversed. The development argues that rise from 0.7158 is possibly completed. But there is no confirmation yet. Meanwhile, the pair is also bounded inside range of 0.7144/7833. A breakout, upside or downside, is needed to clear the outlook.

Initial bias in AUD/USD is mildly on the downside this week for 0.7409 support first. 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 seek to 55 month EMA (now at 0.8169) and above.

In the longer term picture, while the down trend from 1.1079 might extend lower, we’re not anticipating a break of 0.6008 (2008 low) yet. We’ll look for bottoming above there to reverse the medium term trend.

Daily Pivots: (S1) 0.7379; (P) 0.7462; (R1) 0.7506; More…

AUD/USD’s fall from 0.7158 resumed by taking out 0.7439 and reaches as low as 0.7404 so far. Intraday bias is turned back to the downside for deeper decline. As noted before, rise from 0.7158 has completed at 0.7748 already. Further fall should be seen back to 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 from 0.7144/58 to contain downside and bring rebound. But, break of 0.7555 resistance is now needed to indicate short term bottoming. Otherwise, outlook will remain mildly bearish in case of recovery.

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) 0.6742; (P) 0.6765; (R1) 0.6778; More…

Intraday bias in AUD/USD remains neutral and consolidation from 0.6677 might extend. On the upside, break of 0.6822 will extend the corrective rebound from 0.6677. But upside should be limited below 0.6910 support turned resistance to bring fall resumption. On the downside, break of 0.6677 will target 100% projections of 0.7295 to 0.6831 from 0.7082 at 0.6618.

In the bigger picture, decline from 0.8135 (2018 high) is seen as resuming the long term down trend from 1.1079 (2011 high). Firm break of 0.6826 (2016 low) should confirm this bearish view. Further fall should be seen to 0.6008 (2008 low) next. On the upside, break of 0.7082 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) 0.6832; (P) 0.6856; (R1) 0.6870; More…

Firm break of 0.6849 support suggests resumption of fall from 0.7031. Intraday bias is back on the downside for 0.6754 support. Decisive break there will confirm that corrective rebound form 0.6670 has completed with three waves up to 0.7031. Deeper fall should then be seen to retest 0.6670. On the upside, break of 0.6933 resistance is needed to indicate completion of the current fall. Otherwise, risk will stay on the downside in case of recovery.

In the bigger picture, with 0.7082 resistance intact, there is no clear confirmation of trend reversal yet. That is, down trend from 0.8135 (2018 high) is still expect to continue to 0.6008 (2008 low). However, decisive break of 0.7082 will confirm medium term bottoming and bring stronger rally back to 55 month EMA (now at 0.7484).

AUD/USD’s fall from 0.8124 resumed last week and reached as low as 0.7535 so far. Initial bias stays on the downside this week. Current fall is expected to target next key cluster level at 0.7322/8. On the upside, above 0.7607 minor resistance will turn intraday bias neutral. But outlook will stay bearish as long as 0.7729 resistance holds.

In the bigger picture, corrective rise from 0.6826 medium term bottom is likely completed at 0.8124, after hitting 55 month EMA (now at 0.8049). Decisive break of 0.7328 key cluster support (61.8% retracement 0.6826 to 0.8124 at 0.7322) will confirm. And in that case, long term down trend from 1.1079 (2011 high) will likely be resuming. Break of 0.6826 will target 61.8% projection of 1.1079 to 0.6826 from 0.8124 at 0.5496. This will now be the favored case as long as 0.7729 near term resistance holds.

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) 0.7670; (P) 0.7717; (R1) 0.7760; More…

Intraday bias in AUD/USD remains neutral at this point, as it recovery after drawing support from 0.7676. Further rise is still in favor. On the upside, break of 0.7815 will resume the rebound from 0.7530. Further break of 0.7848 will bring retest of 0.8006 high. However, break of 0.7667 will extend the consolidation pattern from 0.8006, and turn bias to the downside for 0.7530 support.

In the bigger picture, whole down trend from 1.1079 (2001 high) should have completed at 0.5506 (2020 low) already. Rise from 0.5506 could either be the start of a long term up trend, or a corrective rise. Reactions to 0.8135 key resistance will reveal which case it is. But in any case, medium term rally is expected to continue as long as 0.7413 resistance turned support holds.

Daily Pivots: (S1) 0.7603; (P) 0.7661; (R1) 0.7767; More…

AUD/USD’s strong rebound and break of 0.7631 resistance indicates that the pull back from 0.7740 is completed. The development indicates that rise from 0.7158 is likely resuming. Intraday bias is back on the upside for 0.7740 resistance first. Decisive break there will target 61.8% projection of 0.7158 to 0.7740 from 0.7490 at 0.7850 next. That coincides with key long term retracement level at 0.7849. On the downside, outlook will stay bullish now as long as 0.7490 support holds, in case of retreat.

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 0.8185) and above.