AUD/USD’s rebound from 0.6269 resumed last week and hit 0.6541. But subsequent retreat suggested that a temporary top was formed. Initial bias stays neutral this week for more consolidations. On the upside, break of 0.6541, and sustained trading above 38.2% retracement of 0.6894 to 0.6269 at 0.6508, will argue that whole corrective fall from 0.7156 has completed with three waves down to 0.6269. Stronger rally should seen to falling channel resistance (now at 0.6676) next.

In the bigger picture, there is no confirmation that down trend from 0.8006 (2021 high) has completed. While current rebound from 0.6269 might extend higher, it could be the third leg of the corrective pattern from 0.6169 (2022 low) only. For now, medium term bearishness will remain as long as 0.6894 resistance holds.

In the long term picture, the down trend from 1.1079 (2011 high) should have completed at 0.5506(2020 low) already. It’s unsure yet whether price actions from 0.5506 are developing into a corrective pattern, or trend reversal. But in either case, fall from 0.8006 is seen the second leg of the pattern. Hence, in case of deeper decline, downside strong support should emerge above 0.5506 to bring reversal.

Daily Pivots: (S1) 0.6448; (P) 0.6485; (R1) 0.6508; More…

Intraday bias in AUD/USD remains neutral for consolidations below 0.6541. Downside should be contained by 55 4H EMA (now at 0.6437) to bring rebound. Break of 0.6541, and sustained trading above 38.2% retracement of 0.6894 to 0.6269 at 0.6508, will argue that whole corrective fall from 0.7156 has completed with three waves down to 0.6269. Stronger rally should seen to falling channel resistance (now at 0.6674) next.

In the bigger picture, there is no confirmation that down trend from 0.8006 (2021 high) has completed. While current rebound from 0.6269 might extend higher, it could be the third leg of the corrective pattern from 0.6169 (2022 low) only. For now, medium term bearishness will remain as long as 0.6894 resistance holds.

Daily Pivots: (S1) 0.6481; (P) 0.6512; (R1) 0.6540; More…

Despite spiking higher to 0.6541, subsequent retreat in AUD/USD suggests that a temporary top was formed. Intraday bias is turned neutral for some consolidations first. Downside should be contained by 55 4H EMA (now at 0.6427) to bring rebound. Break of 0.6541, and sustained trading above 38.2% retracement of 0.6894 to 0.6269 at 0.6508, will argue that whole corrective fall from 0.7156 has completed with three waves down to 0.6269. Stronger rally should seen to falling channel resistance (now at 0.6684) next.

In the bigger picture, there is no confirmation that down trend from 0.8006 (2021 high) has completed. While current rebound from 0.6269 might extend higher, it could be the third leg of the corrective pattern from 0.6169 (2022 low) only. For now, medium term bearishness will remain as long as 0.6894 resistance holds.

Daily Pivots: (S1) 0.6408; (P) 0.6461; (R1) 0.6560; More…

Intraday bias in AUD/USD stays on the upside at this point. Decisive break of 0.6510 cluster resistance (38.2% retracement of 0.6894 to 0.6269 at 0.6508) will argue that whole corrective fall from 0.7156 has completed with three waves down to 0.6269. Stronger rally should seen to falling channel resistance (now at 0.6684) next. On the downside, below 0.6455 minor support will turn intraday bias neutral first.

In the bigger picture, there is no confirmation that down trend from 0.8006 (2021 high) has completed. While current rebound from 0.6269 might extend higher, it could be the third leg of the corrective pattern from 0.6169 (2022 low) only. For now, medium term bearishness will remain as long as 0.6894 resistance holds.

Daily Pivots: (S1) 0.6355; (P) 0.6374; (R1) 0.6395; More…

Break of 0.6247 minor resistance argues that AUD/USD’s pull back from 0.6521 has completed at 0.6337 already. Intraday bias is back on the upside for 0.6510 cluster resistance (38.2% retracement of 0.6894 to 0.6269 at 0.6508). Decisive break there will carry larger bullish implication and turn outlook bullish. Nevertheless, break of 0.6337 will bring retest of 0.6269 support instead.

In the bigger picture, there is no confirmation that down trend from 0.8006 (2021 high) has completed. While current rebound from 0.6269 might extend higher, it could be the third leg of the corrective pattern from 0.6169 (2022 low) only. For now, medium term bearishness will remain as long as 0.6894 resistance holds.

Daily Pivots: (S1) 0.6355; (P) 0.6374; (R1) 0.6395; More…

Intraday bias in AUD/USD is turned neutral first with current recovery. Some consolidations could be seen above 0.6337 temporary low. But deeper decline is expected as long as 0.6427 resistance holds. Below 0.6337 will resume the fall from 0.6521 and target 0.6269 support next. Firm break there will resume larger fall from 0.7156, to retest 0.6169 low. Nevertheless, above 0.6427 will bring stronger rebound back to 0.6510 cluster resistance (38.2% retracement of 0.6894 to 0.6269 at 0.6508).

In the bigger picture, there is no confirmation that down trend from 0.8006 (2021 high) has completed. While current rebound from 0.6269 might extend higher, it could be the third leg of a corrective pattern from 0.6169 (2022 low) only. For now, medium term bearishness will remain as long as 0.6894 resistance holds.

Daily Pivots: (S1) 0.6343; (P) 0.6357; (R1) 0.6376; More…

Intraday bias in AUD/USD stays on the downside at this point. Deeper fall should be seen back to retest 0.6269. Firm break there will resume larger fall from 0.7156, to retest 0.6169 low. On the upside, above 0.6427 minor resistance will turn intraday bias neutral first. Overall, outlook will stay bearish as long as 0.6510 cluster resistance (38.2% retracement of 0.6894 to 0.6269 at 0.6508) holds.

In the bigger picture, there is no confirmation that down trend from 0.8006 (2021 high) has completed. While current rebound from 0.6269 might extend higher, it could be the third leg of a corrective pattern from 0.6169 (2022 low) only. For now, medium term bearishness will remain as long as 0.6894 resistance holds.

AUD/USD’s steep decline last week argues that rebound from 0.6269 has completed at 0.6521. Initial bias remains mildly on the downside this week for retesting 0.6269 low. On the upside, above 0.6390 minor resistance will turn intraday bias neutral first, and bring consolidations, before staging another fall.

In the bigger picture, rejection by 0.6510 cluster resistance (38.2% retracement of 0.6894 to 0.6269 at 0.6508) keeps medium term outlook bearish. Fall from 0.7156 (2023 high) is still in progress. Break of 0.6269 will resume the down trend and target 0.6169 (2022 low). Nevertheless, firm break of 0.6521 will now indicate medium term bottoming, and bring stronger rebound.

In the long term picture, the down trend from 1.1079 (2011 high) should have completed at 0.5506(2020 low) already. It’s unsure yet whether price actions from 0.5506 are developing into a corrective pattern, or trend reversal. But in either case, fall from 0.8006 is seen the second leg of the pattern. Hence, in case of deeper decline, downside strong support should emerge above 0.5506 to bring reversal.

Daily Pivots: (S1) 0.6344; (P) 0.6387; (R1) 0.6409; More…

AUD/USD’s steep decline now suggests that rebound from 0.6269 has completed at 0.6521. The development also indicates rejection by 0.6510 cluster resistance (38.2% retracement of 0.6894 to 0.6269 at 0.6508), and retain near term bearishness. Intraday bias is back on the downside for retesting 0.6269 low. Firm break there will resume larger fall from 0.7156, to retest 0.6169 low. On the upside, above 0.6427 minor resistance will turn intraday bias neutral first.

In the bigger picture, there is no confirmation that down trend from 0.8006 (2021 high) has completed. While current rebound from 0.6269 might extend higher, it could be the third leg of a corrective pattern from 0.6169 (2022 low) only. For now, medium term bearishness will remain as long as 0.6894 resistance holds.

Daily Pivots: (S1) 0.6384; (P) 0.6417; (R1) 0.6435; More…

Intraday bias in AUD/USD stays neutral with focus on 0.6411 support and 55 4H EMA. On the downside, firm break of 0.6411 will indicate rejection by 0.6510 cluster resistance (38.2% retracement of 0.6894 to 0.6269 at 0.6508) , and turn bias back to the downside for retesting 0.6269 low. Nevertheless, decisive break of 0.6508/10 will argue that whole decline from 0.7156 might be completed with three waves down to 0.6269. Stronger rally should then be seen to medium term trend line resistance (now at 0.6700).

In the bigger picture, there is no confirmation that down trend from 0.8006 (2021 high) has completed. While current rebound from 0.6269 might extend higher, it could be the third leg of a corrective pattern from 0.6169 (2022 low) only. For now, medium term bearishness will remain as long as 0.6894 resistance holds.

Daily Pivots: (S1) 0.6393; (P) 0.6448; (R1) 0.6492; More…

AUD/USD recovered after hitting 0.6411 minor support as well as 55 4H EMA. Intraday bias stays neutral first. On the downside, firm break of 0.6411 will indicate rejection by 0.6510 cluster resistance (38.2% retracement of 0.6894 to 0.6269 at 0.6508) , and turn bias back to the downside for retesting 0.6269 low. Nevertheless, decisive break of 0.6508/10 will argue that whole decline from 0.7156 might be completed with three waves down to 0.6269. Stronger rally should then be seen to medium term trend line resistance (now at 0.6700).

In the bigger picture, there is no confirmation that down trend from 0.8006 (2021 high) has completed. While current rebound from 0.6269 might extend higher, it could be the third leg of a corrective pattern from 0.6169 (2022 low) only. For now, medium term bearishness will remain as long as 0.6894 resistance holds.

Daily Pivots: (S1) 0.6449; (P) 0.6484; (R1) 0.6547; More…

Intraday bias in AUD/USD is turned neutral first with today’s steep retreat. For now, another rise will remain mildly in favor as long as 0.6411 minor support holds. Sustained break of 0.6510 cluster resistance (38.2% retracement of 0.6894 to 0.6269 at 0.6508) will argue that whole decline from 0.7156 might be completed with three waves down to 0.6269. Stronger rally should then be seen to medium term trend line resistance (now at 0.6700). However, firm break of 0.6411 will indicate rejection by 0.6510, and turn bias back to the downside for retesting 0.6269 low.

In the bigger picture, there is no confirmation that down trend from 0.8006 (2021 high) has completed. While current rebound from 0.6269 might extend higher, it could be the third leg of a corrective pattern from 0.6169 (2022 low) only. For now, medium term bearishness will remain as long as 0.6894 resistance holds.

Daily Pivots: (S1) 0.6449; (P) 0.6484; (R1) 0.6547; More…

Intraday bias in AUD/USD remains on the upside for the moment. Sustained break of 0.6510 cluster resistance (38.2% retracement of 0.6894 to 0.6269 at 0.6508) will argue that whole decline from 0.7156 might be completed with three waves down to 0.6269. Stronger rally should then be seen to medium term trend line resistance (now at 0.6708). Meanwhile, rejection by 0.6510 will retain near term bearishness.

In the bigger picture, there is no confirmation that down trend from 0.8006 (2021 high) has completed. While current rebound from 0.6269 might extend higher, it could be the third leg of a corrective pattern from 0.6169 (2022 low) only. For now, medium term bearishness will remain as long as 0.6894 resistance holds.

AUD/USD’s strong rally last week confirmed short term bottoming at 0.6269. Initial bias stays on the upside this week with focus on 0.6510 cluster resistance (38.2% retracement of 0.6894 to 0.6269 at 0.6508). Sustained break of 0.6510 will argue that whole decline from 0.7156 might be completed with three waves down to 0.6269. Stronger rally should then be seen to medium term trend line resistance (now at 0.6708). Meanwhile, rejection by 0.6510 will retain near term bearishness.

In the bigger picture, there is no confirmation that down trend from 0.8006 (2021 high) has completed. While current rebound from 0.6269 might extend higher, it could be the third leg of a corrective pattern from 0.6169 (2022 low) only. For now, medium term bearishness will remain as long as 0.6894 resistance holds.

In the long term picture, while fall from 0.8006 might extend lower, the structure argues that it’s merely a correction to rise from 0.5506 (2020 low). In case of downside extension, strong support should emerge above 0.5506 to bring reversal. But still, momentum of the next move will be monitored to adjust the assessment.

Daily Pivots: (S1) 0.6398; (P) 0.6427; (R1) 0.6463; More…

Intraday bias in AUD/USD remains on the upside at this point. Rebound from 0.6269 short term bottom would target 0.6510 cluster resistance (38.2% retracement of 0.6894 to 0.6269 at 0.6508). Rejection by this level will retain near term bearishness or another fall through 0.6269 at a later stage. Below 0.6382 minor support will turn intraday bias neutral first. However, firm break of 0.6510 will argue that whole decline from 0.7156 might be completed with three waves down to 0.6269. Stronger rally should then be seen.

In the bigger picture, down trend from 0.8006 (2021 high) is possibly still in progress. Decisive break of 0.6169 will target 61.8% projection of 0.8006 to 0.6169 to 0.7156 at 0.6021. This will now remain the favored case as long as 0.6894, in case of strong rebound.

Daily Pivots: (S1) 0.6341; (P) 0.6371; (R1) 0.6423; More…

AUD/USD’s break of 0.6398 resistance indicates short term bottoming at 0.6398. Intraday bias is back on the upside for rebound to 0.6510 cluster resistance (38.2% retracement of 0.6894 to 0.6269 at 0.6508). Rejection by this level will retain near term bearishness or another fall through 0.6269 at a later stage. However, firm break of 0.6510 will argue that whole decline from 0.7156 might be completed with three waves down to 0.6269. Stronger rally should then be seen.

In the bigger picture, down trend from 0.8006 (2021 high) is possibly still in progress. Decisive break of 0.6169 will target 61.8% projection of 0.8006 to 0.6169 to 0.7156 at 0.6021. This will now remain the favored case as long as 0.6894, in case of strong rebound.

Daily Pivots: (S1) 0.6309; (P) 0.6343; (R1) 0.6372; More…

Range trading continues in AUD/USD and intraday bias stays neutral. Outlook remains bearish with 0.6398 resistance intact. On the downside, break of 0.6269 will resume larger fall from 0.7156 to 100% projection of 0.7156 to 0.6457 from 0.6894 at 0.6195, which is close to 0.6169 medium term support.

In the bigger picture, down trend from 0.8006 (2021 high) is possibly still in progress. Decisive break of 0.6169 will target 61.8% projection of 0.8006 to 0.6169 to 0.7156 at 0.6021. This will now remain the favored case as long as 0.6894, in case of strong rebound.

Daily Pivots: (S1) 0.6344; (P) 0.6364; (R1) 0.6395; More…

Intraday bias in AUD/USD stays neutral and outlook remains bearish with 0.6398 resistance intact. On the downside, break of 0.6269 will resume larger fall from 0.7156 to 100% projection of 0.7156 to 0.6457 from 0.6894 at 0.6195, which is close to 0.6169 medium term support.

In the bigger picture, down trend from 0.8006 (2021 high) is possibly still in progress. Decisive break of 0.6169 will target 61.8% projection of 0.8006 to 0.6169 to 0.7156 at 0.6021. This will now remain the favored case as long as 0.6894, in case of strong rebound.

Daily Pivots: (S1) 0.6313; (P) 0.6341; (R1) 0.6362; More…

Intraday bias in AUD/USD remains neutral at this point, and outlook stays bearish with 0.6398 resistance intact. On the downside, break of 0.6269 will resume larger fall from 0.7156 to 100% projection of 0.7156 to 0.6457 from 0.6894 at 0.6195, which is close to 0.6169 medium term support.

In the bigger picture, down trend from 0.8006 (2021 high) is possibly still in progress. Decisive break of 0.6169 will target 61.8% projection of 0.8006 to 0.6169 to 0.7156 at 0.6021. This will now remain the favored case as long as 0.6894, in case of strong rebound.

AUD/USD edged lower to 0.6269 last week but quickly recovered. Initial bias remains neutral this week first. Outlook will stay bearish as long as 0.6398 resistance holds. Break of 0.6269 will resume larger fall from 0.7156 to 100% projection of 0.7156 to 0.6457 from 0.6894 at 0.6195, which is close to 0.6169 medium term support.

In the bigger picture, down trend from 0.8006 (2021 high) is possibly still in progress. Decisive break of 0.6169 will target 61.8% projection of 0.8006 to 0.6169 to 0.7156 at 0.6021. This will now remain the favored case as long as 0.6894, in case of strong rebound.

In the long term picture, while fall from 0.8006 might extend lower, the structure argues that it’s merely a correction to rise from 0.5506 (2020 low). In case of downside extension, strong support should emerge above 0.5506 to bring reversal. But still, momentum of the next move will be monitored to adjust the assessment.