Daily Pivots: (S1) 0.6951; (P) 0.6980; (R1) 0.6997; More…

AUD/USD retreated after hitting 0.7007 and intraday bias is turned neutral first. Further rise will remain in favor as long as 0.6938 resistance turned support holds. Above 0.7007 will extend the rebound from 0.6864 short term bottom to 0.7205 key resistance next. However, break of 0.6938 minor support will turn bias back to the downside for 0.6864 low instead.

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) 0.7645; (P) 0.7664; (R1) 0.7696; More…

Intraday bias in AUD/USD remains on the upside for 0.7711. Break there will extend the rise from 0.7328 through 0.7748, possibly to 0.7833. Still, there is no clear sign of range breakout yet. Hence, we’d be cautious on topping again as it approaches medium term fibonacci level at 0.7849. On the downside, below 0.7641 minor support will extend the consolidation pattern from 0.7711 with another fall. But outlook will remains mildly bullish as long as 0.7534 support holds.

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 0.8082) and above.

Daily Pivots: (S1) 0.7531; (P) 0.7549; (R1) 0.7570; More…

AUD/USD’s consolidation from 0.7608 is still in progress and intraday bias remains neutral first. Further rise could be seen with 0.7448 support intact. On the upside, above 0.7608 will extend the rebound form 0.7158. But we’d expect strong resistance from 0.7777/7833 resistance zone to bring near term reversal. On the downside, break of 0.7448 support will indicate that rebound from 0.7158 has completed. That will turn bias 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) 0.6573; (P) 0.6592; (R1) 0.6623; More….

Intraday bias in AUD/USD remains neutral first. On the upside, break of 0.6618 resistance will affirm the case that rise from 0.6480 is the third leg of the pattern from 0.6442 low. Intraday bias will be back on the upside for 0.6666 resistance, and then 100% projection of 0.6442 to 0.6666 from 0.6480 at 0.6704. Nevertheless, break of 0.6480 support will bring retest of 0.6442 low 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 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) 0.7620; (P) 0.7667; (R1) 0.7697; More…

Intraday bias in AUD/USD remains neutral with focus on 0.7624 support. Decisive break there will resume the whole decline from 0.8124. And, AUD?USD should target next key cluster level at 0.7322/8. In case of another rise, upside of recovery should be limited well below 0.7896 resistance to bring fall resumption.

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) 0.7480; (P) 0.7513; (R1) 0.7531; More…

AUD/USD’s fall from 0.7748 continues today and breaches 0.7490 support. The development indicates that rise from 0.7158 is already completed at 0.7748. And, near term trend has reversed Intraday bias stays on the downside for 0.7144/58 support zone next. On the upside, above 0.7351 minor resistance will turn bias neutral and bring recovery. But upside should be limited by 0.7586 support turned resistance to bring fall resumption.

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 0.8142) and above.

Daily Pivots: (S1) 0.7597; (P) 0.7625; (R1) 0.7664; More…

Break of 0.7647 minor resistance indicates temporary bottoming at 0.7586. But recovery from there is weak so far. Hence, intraday bias is turned neutral first. On the upside, break of 0.7748 will extend the rally from 0.7158. In that case, we’d expect strong resistance from long term retracement level at 0.7849 to limit upside. On the downside, below 0.7586 will turn bias back to the downside for 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.

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) 0.6669; (P) 0.6701; (R1) 0.6739; More...

Intraday bias in AUD/USD remains on the upside for the moment. Rise from 0.6361 has just resumed and should target 61.8% projection of 0.6361 to 0.6713 from 0.6619 at 0.6837 next. For now, 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.

Daily Pivots: (S1) 0.7688; (P) 0.7713; (R1) 0.7754; More…

AUD/USD’s rally continues today and reaches as high as 0.7762. Break of 0.7711 confirms resumption of rise from 0.7328. Intraday bias remains on the upside for 0.7833. Still, there is no clear sign of range breakout yet. Hence, we’d be cautious on topping again as it approaches medium term fibonacci level at 0.7849. On the downside, below 0.7713 minor support will turn intraday bias neutral first. But near term outlook will remain bullish as long as 0.7570 support holds.

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 0.8082) and above.

Daily Pivots: (S1) 0.6621; (P) 0.6660; (R1) 0.6689; More….

No change in AUD/USD’s outlook as consolidation continues below 0.6713. As long as 0.6578 cluster support (38.2% retracement of 0.6361 to 0.6713 at 0.6579) holds, further rally remains in favor. 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) 0.7804; (P) 0.7832; (R1) 0.7873; More…

No change in AUD/USD’s outlook as it’s still bounded in range of 0.7758/7988. Intraday bias remains neutral. On the downside, below 0.7758 will resume the fall from 0.8135 and target 0.7500 key near term support. On the upside, above 0.7988 will extend the rebound to retest 0.8135.At this point, there is no strong case for a range breakout yet and 0.7500/8135 could hold for a while.

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) 0.6627; (P) 0.6646; (R1) 0.6666; More….

Range trading continues in AUD/USD and intraday bias remains neutral at this point. As long as 0.6578 cluster support (38.2% retracement of 0.6361 to 0.6713 at 0.6579) holds, further rally remains in favor. 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) 0.7675; (P) 0.7703; (R1) 0.7723; More…

Intraday bias in AUD/USD remains mildly on the upside for the moment. Bearish divergence condition remains in 4 hour MACD. Thus, we’d expect strong resistance from 0.7777/7833 resistance zone to limit upside 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 0.7530) 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 0.8205) and above.

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Daily Pivots: (S1) 0.7526; (P) 0.7536; (R1) 0.7552; More…

AUD/USD recovers today but it’s staying below 0.7566 temporary top. Intraday bias remains neutral for the moment. With 0.7456 minor support intact, further rise is in favor. Above 0.7566 will target 0.7748 resistance. In that case, we’ll be cautious on topping again as it approaches medium term fibonacci level at 0.7849. On the downside, below 0.7456 minor support will turn bias back to the downside for 0.7328 short term bottom.

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 0.8091) and above.

Daily Pivots: (S1) 0.7728; (P) 0.7758; (R1) 0.7815; More…

Intraday bias in AUD/USD remains neutral as consolidation from 0.7815 continues. With 0.7676 support intact, further rise is expected. 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 0.7676 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) 0.7654; (P) 0.7674; (R1) 0.7698; More…

AUD/USD’s consolidation from 0.7624 is still in progress and intraday bias remains neutral. Overall, near term outlook stays 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) 0.6590; (P) 0.6617; (R1) 0.6643; More...

Intraday bias in AUD/USD remains neutral as range trading continues. 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) 0.6726; (P) 0.6744; (R1) 0.6755; More...

A temporary top is formed at 0.6760 in AUD/USD and intraday bias is turned neutral first. Outlook will stay bullish as long as 0.6619 support holds. On the upside, break of 0.6760 will resume the whole rally from 0.6361. Next target is 61.8% projection of 0.6361 to 0.6713 from 0.6619 at 0.6837.

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) 0.7647; (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) 0.7638; (P) 0.7667; (R1) 0.7689; More…

AUD/USD pull back from 0.7711 accelerates to as low as 0.7603 so far. But it’s still staying above 0.7534 support and intraday bias remains neutral first. Another rise is in favor as long as 0.7534 support holds. Above 0.7711 will target 0.7748 resistance and above. At this point, there is no clear sign of range breakout yet. Hence, we’d be cautious on topping again as it approaches medium term fibonacci level at 0.7849. On the downside, break of 0.7534 will indicate near term reversal and turn bias 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 0.8096) and above.