Daily Pivots: (S1) 0.7369; (P) 0.7390; (R1) 0.7423; More…

AUD/USD’s rise form 0.7105 short term bottom is still in progress and intraday bias remains on the upside. Sustained break of 0.7425 resistance will argue that whole correction from 0.8006 has completed at 0.7105 already, just above 0.6991/7051 support zone. Stronger rise would be seen to 0.7530 support turned resistance for confirmation. On the downside, below 0.7283 minor support will turn bias back to the downside for retesting 0.7105 low 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. Deeper decline would be seen to 61.8% retracement at 0.6461.

Daily Pivots: (S1) 0.7096; (P) 0.7122; (R1) 0.7166; More…

AUD/USD’s corrective recovery from 0.7054 is still in progress and further rise might be seen. But upside should be limited below 0.7295 resistance to bring another decline. We’re favoring the case that rebound from 0.6722 has completed at 0.7295 already. On the downside break of 0.7054 support will affirm this case and target 61.8% retracement of 0.6722 to 0.7295 at 0.6941 next.

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) 0.7655; (P) 0.7673; (R1) 0.7708; More…

AUD/USD recovers ahead of 0.7624 support as consolidation continues. Intraday bias remains neutral first. Near term outlook remains bearish with 0.7896 resistance intact and deeper fall is expected. Decisive break of 0.7624 will resume whole decline from 0.8124. And, AUD/USD should target next key cluster level at 0.7322/8 next.

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 0.8067). 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 0.7896 near term resistance holds.

Daily Pivots: (S1) 0.6625; (P) 0.6685; (R1) 0.6740; More…

Intraday bias in AUD/USD stays mildly on the downside at this point. Firm break of 38.2% retracement of 0.6169 to 0.6892 at 0.6616 will indicate rejection by 0.66871 fibonacci level. Deeper fall should then be seen to 61.8% retracement at 0.6445. On the upside, however, break of 0.6742 minor resistance will turn bias back to the upside for retesting 0.6892.

In the bigger picture, it’s still unsure if price actions from 0.6169 medium term bottom are developing into a corrective pattern or trend reversal. Rejection by 38.2% retracement of 0.8006 to 0.6169 at 0.6871 will maintain medium term bearishness for another fall through 0.6169 at a later stage. However, firm break of 0.6871, and sustained trading above 55 week EMA (now at 0.6900) will raise the chance of the start of a bullish up trend.

Daily Pivots: (S1) 0.7786; (P) 0.7805; (R1) 0.7822; More…

AUD/USD’s rise from 0.7500 is still in progress. Intraday bias stays on the upside for 0.7896 cluster resistance (61.8% retracement of 0.8124 to 0.7500 at 0.7886). On the downside, break of 0.7694 support is needed to indicate completion of the rebound. Otherwise, further rally will remain in favor in case of retreat.

In the bigger picture, we’re still slightly favoring the case that corrective rise from 0.6826 medium term bottom is likely completed at 0.8124, after hitting 55 month EMA (now at 0.8034). But stronger than expected rebound from 0.7500 is dampening this bearish view. On the downside, break of 0.7500 will target 0.7328 key cluster support (61.8% retracement 0.6826 to 0.8124 at 0.7322) to confirm this bearish case. But break of 0.8124 will extend the rise from 0.6826 to 38.2% retracement of 1.1079 (2011 high) to 0.6826 (2016 low) at 0.8451 before completion.

Daily Pivots: (S1) 0.7910; (P) 0.7947; (R1) 0.7988; More…

Break of 0.7927 suggests that rebound from 0.7807 has resumed. Intraday bias is turned back to the upside for 0.8065 high next. Firm break of 0.8065 will resume the medium term rise and target 100% projection of 0.6826 to 0.7833 from 0.7328 at 0.8335. On the downside, below 0.7866 will extend the correction from 0.8065. But downside should be contained by 0.7785 cluster support (38.2% retracement of 0.7328 to 0.8065 at 0.7783) to bring rebound.

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 0.8097) will target 38.2% retracement of 1.1079 to 0.6826 at 0.8451. Break of 0.7328 support is needed to confirm completion of the rebound. Otherwise, further rise is now in favor.

Daily Pivots: (S1) 0.6474; (P) 0.6502; (R1) 0.6526; More…

Intraday bias in AUD/USD remains on the upside for the moment. Sustained break of 55 D EMA (now at 0.6527) will argue that fall from 0.6870 has completed, and bring further rally to 0.6643 resistance next. On the downside, though, break of 0.6440 minor support will indicate rejection by 55 D EMA and retain near term bearishness. Retest of 0.6361 low should be seen 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 is still 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) 0.6575; (P) 0.6610; (R1) 0.6632; More…

Intraday bias in AUD/USD remains neutral and consolidations would continue below 0.6645. Further rise is in favor as long as 55 4H EMA (now at 0.6560) holds. Above 0.6645 will resume the rebound from 0.6361. On the downside, however, firm break of 55 4H EMA will bring deeper fall back to 0.6464 support instead.

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 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) 0.6715; (P) 0.6735; (R1) 0.6749; More...

Intraday bias in AUD/USD remains neutral for the moment. Further rally is expected as long as 0.6709 minor support holds. On the upside, above 0.6798 will resume the rally from 0.6361 and target 61.8% projection of 0.6361 to 0.6713 from 0.6619 at 0.6837. Decisive break there could prompt upside acceleration through 0.6870 resistance to 100% projection at 0.6971. On the downside, however, firm break of 0.6709 support will turn intraday bias to the downside for deeper pullback.

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. Break of 0.6870 will target 100% projection of 0.6269 to 0.6870 from 0.6361 at 0.6962.

Daily Pivots: (S1) 0.6872; (P) 0.6910; (R1) 0.6948; More…

Intraday bias in AUD/USD remains neutral for consolidations below 0.7062. Overall outlook stays bullish as long as 0.6721 support holds. On the upside, break of 0.7062 will resume rise from 0.6169 to 61.8% projection of 0.6169 to 0.6892 from 0.6721 at 0.7168 next. However, firm break of 0.6721 will indicate short term topping, and turn bias back to the downside.

In the bigger picture, corrective decline from 0.8006 (2021 high) should have completed with three waves down to 0.6169 (2022 low). Further rally should be seen to 61.8% retracement of 0.8006 to 0.6169 at 0.7304. Sustained break there will pave the way to retest 0.8006. This will now remain the favored case as long as 0.6721 support holds.

Daily Pivots: (S1) 0.6649; (P) 0.6664; (R1) 0.6681; More...

AUD/USD is staying in consolidation from 0.6713 and intraday bias remains neutral. Further rally is expected as long as 0.6578 support holds. As noted before, fall from 0.6870 has probably completed with three waves down to 0.6361 already. Above 0.6713 will target 0.6870 resistance 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 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) 0.7636; (P) 0.7665; (R1) 0.7684; More…

AUD/USD weakens mildly today but stays in range of 0.7605/7740. Intraday bias is still neutral at this point. Another rise cannot be ruled out. However, considering bearish divergence condition in 4 hour MACD, upside should be limited by 0.7777/7833 resistance zone and bring near term reversal. On the downside, break of 0.7605 support will indicate that rise from 0.7158 has completed already and turn bias back to the downside for 55 day EMA (now at 0.7566) first.

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 0.8186) and above.

Daily Pivots: (S1) 0.7644; (P) 0.7663; (R1) 0.7681; More…

Intraday bias in AUD/USD remains neutral at this point. Price actions from 0.7500 are viewed as a corrective pattern. Upside should be limited by 0.7732 cluster resistance (38.2% retracement of 0.8124 to 0.7500 at 0.7738). On the downside, below 0.7604 minor support will bring rest of 0.7500. Break will resume whole fall from 0.8124. However, sustained break of 0.7732 should invalidate our bearish view and bring stronger rise through 61.8% retracement at 0.7886.

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 0.8034). 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 0.7732 near term resistance holds.

Daily Pivots: (S1) 0.6823; (P) 0.6852; (R1) 0.6895; More…

A short term top is formed at 0.6892 in AUD/USD with current decline. Intraday bias back on the downside for 38.2% retracement of 0.6169 to 0.6892 at 0.6616. Sustained break there will suggest rejection by 0.66871 fibonacci level. Deeper fall should then be seen to 61.8% retracement at 0.6445. For now, risk will stay mildly on the downside as long as 0.6892 resistance holds, in case of recovery.

In the bigger picture, it’s still unsure if price actions from 0.6169 medium term bottom are developing into a corrective pattern or trend rejection. Rejection by 38.2% retracement of 0.8006 to 0.6169 at 0.6871 will maintain medium term bearishness for another fall through 0.6169 at a later stage. However, firm break of 0.6871, and sustained trading above 55 week EMA (now at 0.6912) will raise the chance of the start of a bullish up trend.

Daily Pivots: (S1) 0.6632; (P) 0.6658; (R1) 0.6697; More...

Intraday bias in AUD/USD remains neutral as consolidation from 0.6713 is still extending. 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) 0.7332; (P) 0.7369; (R1) 0.7392; More…

Intraday bias in AUD/USD remains neutral as consolidation from 0.7288 is extending. Outlook stays bearish as long as 0.7443 resistance holds. 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) 0.7667; (P) 0.7687; (R1) 0.7720; More…

AUD/USD’s rebound from 0.7500 resumed and reaches as high as 0.7718 so far. Further rally could still be seen. But it’s seen as a correction and upside should be limited by 0.7732 cluster resistance (38.2% retracement of 0.8124 to 0.7500 at 0.7738). On the downside, break of 0.7653 minor support will turn bias to the downside for retesting 0.7500. However, sustained break of 0.7732 should invalidate our bearish view and bring stronger rise through 61.8% retracement at 0.7886.

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 0.8034). 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 0.7732 near term resistance holds.

Daily Pivots: (S1) 0.7164; (P) 0.7181; (R1) 0.7211; More…

Intraday bias in AUD/USD remains neutral first as range trading continues. Further rise could be seen with 0.7109 intact. above 0.7275 will extend the rise from 0.5506 to 0.7311 long term EMA. However, considering persistent bearish divergence condition in 4 hour MACD, break of 0.7109 support should confirm short term topping. Intraday bias will be turned back to the downside for correction towards 0.6776 support.

In the bigger picture, rebound from 0.5506 medium term bottom could be correcting whole long term down trend from 1.1079 (2011 high). Further rally would be seen to 55 month EMA (now at 0.7311). This will remain the preferred case as long as it stays above 55 week EMA (now at 0.6817). However, sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

Daily Pivots: (S1) 0.7299; (P) 0.7336; (R1) 0.7359; More…

AUD/USD’s decline from 0.7477 extends lower. But overall, another rise is still in favor as long as 0.7279 minor support holds. Whole corrective pattern from 0.8006 might have completed at 0.7105 already. On the upside, above 0.7409 minor resistance will turn bias to the upside for 0.7477 and then 0.7530 support turned resistance. However, break of 0.7279 will dampen our bullish view and turn bias back to the downside for 0.7105 low 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 form 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) 0.7371; (P) 0.7421; (R1) 0.7490; More…

The rebound from 0.7158 extends higher and strong break of 28.2% retracement of 0.7777 to 0.7518 at 0.7394 suggests that fall from 0.7777 is completed. Intraday bias stays on the upside and further rally would now be seen back to 61.8% retracement at 0.7541 and above. At this point, we’d expect strong resistance from 0.7777/7833 to limit upside. On the downside, below 0.7351 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 and target 61.8% projection of 0.9504 to 0.6826 from 0.7777 at 0.6122 next. 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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