Daily Pivots: (S1) 0.7546; (P) 0.7574; (R1) 0.7593; More…

Intraday bias in AUD/USD remains neutral and outlook is unchanged. On the downside, break of 0.7476 will resume the corrective pattern from 0.8006 towards 100% projection of 0.8006 to 0.7530 from 0.7890 at 0.7414. We’d expect strong support from there to bring rebound. On the upside, break of 0.7644 support turned resistance will turn bias back to the upside for 0.7890 resistance. However, sustained break of 0.7414 will argue it’s at least in larger scale correction, and target 161.8% projection at 0.7120 next.

In the bigger picture, rise from 0.5506 medium term bottom 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. Rejection by 0.8135 key resistance, followed by firm break of 0.7413 resistance turned support, will favors the latter case. Deeper decline would be seen to 38.2% retracement of 0.5506 to 0.8006 at 0.7051 first.

Daily Pivots: (S1) 0.6528; (P) 0.6548; (R1) 0.6568; More...

Intraday bias in AUD/USD remains neutral for consolidations above 0.6513 temporary low. Further decline is expected as long as 55 4H EMA (now at 0.6623) holds. On the downside, sustained break of 61.8% retracement of 0.6361 to 0.6798 at 0.6528 will resume the fall from 0.6798 to 0.6361 support next.

In the bigger picture, overall, price actions from 0.6169 (2022 low) are seen as a medium term corrective pattern, with fall from 0.6798 as another falling leg. Deeper fall could be seen to the lower side of the range between 0.6169/6361. But strong support should be seen there to contain downside. For now, risk will stay on the downside as long as 0.6798 resistance holds, in case of rebound.

Daily Pivots: (S1) 0.7402; (P) 0.7446; (R1) 0.7476; More…

Focus is now on 0.7143/4 key support in AUD/USD. We’d still expect this to hold to complete the correction from 0.8006. On the upside, break of 0.7598 resistance will indicate short term bottoming. Intraday bias will be turned back to the upside for retesting 0.7890/8006 resistance zone. On the downside, however, sustained break of 0.7414 will argue it’s at least in larger scale correction, and target 161.8% projection of 0.8006 to 0.7530 from 0.7890 at 0.7120 next.

In the bigger picture, rise from 0.5506 medium term bottom 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. Rejection by 0.8135 key resistance, followed by firm break of 0.7413 resistance turned support, will favors the latter case. Deeper decline would be seen to 38.2% retracement of 0.5506 to 0.8006 at 0.7051 first.

Daily Pivots: (S1) 0.7584; (P) 0.7623; (R1) 0.7657; More…

Intraday bias in AUD/USD remains neutral for the moment. Rebound form 0.7530 is in favor to continue as long as 0.7587 minor support holds. Break of 0.767 will target 0.7848 resistance. Firm break there should confirm completion of the corrective fall from 0.8006. However, break of 0.7587 will likely resume the correction from 0.8006 through 0.7530.

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) 0.7492; (P) 0.7517; (R1) 0.7542; More…

AUD/USD is staying in consolidation above 0.7472 temporary low. With 0.7583 minor resistance intact, recent decline should resume sooner rather than later. Below 0.7472 and sustained break of 0.7500 will indicate medium term reversal and target next support at 0.7328. However, break of 0.7583 will indicate short term bottoming, on bullish convergence condition in 4 hour MACD. And stronger rebound could be seen back to 38.2% retracement of 0.8135 to 0.7472 at 0.7725 and possibly above.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. Decisive break of 0.7500 key support will suggest that such correction is completed. In that case, deeper decline would be seen back to retest 0.6826 low. In case of another rise, 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 eventually.

Daily Pivots: (S1) 0.6520; (P) 0.6545; (R1) 0.6575; More…

Intraday bias in AUD/USD is turned neutral first with a temporary low formed at 0.6513. On the downside, below 0.6513 will target 0.6457 support first. Break there will resume the fall from 0.7156 to 100% projection of 0.7156 to 0.6457 from 0.6894 at 0.6195. On the upside, above 0.6628 minor resistance will turn bias back to the upside for stronger rebound.

In the bigger picture, outlook is mixed for now as AUD/USD failed to sustain above both 55 D EMA (now at 0.6701) and 55 W EMA (now at 0.6784). On the upside, break of 0.65898 resistance will solidify the case that down trend from 0.8006 (2021 high) has already completed, and target 0.7156 resistance for confirmation. However, break of 0.6457 will likely resume the down trend through 0.6169 (2022 low).

Daily Pivots: (S1) 0.7022; (P) 0.7047; (R1) 0.7074; More…

AUD/USD’s decline lost momentum ahead of 0.7005 support and recovered. Intraday bias is turned neutral first. Further fall is expected as long as 0.7114 resistance holds. Break of 0.7005 will resume the corrective fall from 0.7413 to 38.2% retracement of 0.5506 to 0.7413 at 0.6685. However, break of 0.7114 will turn bias back to the upside for 0.7243 resistance instead.

In the bigger picture, while rebound from 0.5506 was strong, there is not enough evidence to confirm bullish trend reversal yet. That is, it could be just a correction inside the long term down trend. Sustained trading back below 55 week EMA (now at 0.6916) will favor the bearish case and argue that the rebound has completed. Focus will be turned back to 0.5506 low. On the upside, break of 0.7413 will extend the rise from 0.5506 to 38.2% retracement of 1.1079 (2011 high) to 0.5506 (2020 low) at 0.7635.

Daily Pivots: (S1) 0.6875; (P) 0.6963; (R1) 0.7014; More…

Intraday bias in AUD/USD remains on the downside for retesting 0.6828 low. Firm break there will resume larger fall from 0.8006 to 0.6756/60 cluster support. On the upside, above 0.7033 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 0.7282 resistance holds.

In the bigger picture, price actions from 0.8006 are seen as a corrective pattern to rise from 0.5506 (2020 low). Deeper fall could still be seen to 50% retracement of 0.5506 to 0.8006 at 0.6756. This coincides with 100% projection of 0.8006 to 0.7105 from 0.7660 at 0.6760. Strong support is expected from 0.6756/60 cluster to contain downside to complete the correction. Meanwhile, firm break of 0.7660 resistance will confirm that such corrective pattern has completed, and larger up trend is ready to resume.

Daily Pivots: (S1) 0.6859; (P) 0.6876; (R1) 0.6904; More…

Outlook in AUD/USD remains unchanged and intraday bias remains neutral first. Correction pattern from 0.7064 is expected to have another decline before completion. On the downside, break of 0.6776 will target 38.2% retracement of 0.5506 to 0.7064 at 0.6469. Nevertheless, sustained break of 0.7064 will resume whole rise from 0.5506 instead.

In the bigger picture, rebound from 0.5506 medium term bottom could be correcting whole long term down trend form 1.1079 (2011 high). Further rally would be seen to 55 month EMA (now at 0.7340). This will remain the preferred case as long as it stays above 55 week EMA (now at 0.6727). Sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

Daily Pivots: (S1) 0.6499; (P) 0.6524; (R1) 0.6554; More…

Intraday bias in AUD/USD remains neutral at this point. On the upside, above 0.6569 will extend the rebound from 0.5506 and target 0.6670 key resistance. On the downside, break of 0.6372 support should confirm short term reversal and bring deeper fall to 38.2% retracement of 0.5506 to 0.6569 at 0.6163 first.

In the bigger picture, there is no clear sign of trend reversal yet. The larger down trend from 1.1079 (2011 high) is still in favor to extend. 61.8% projection of 1.1079 to 0.6826 from 0.8135 at 0.5507 is already met. Sustained break there will pave the way to 0.4773 (2001 low). On the upside, however, sustained break of 0.6607 will suggest medium term bottoming and turn focus to 0.7031 resistance next.

AUD/USD’s corrective rise from 0.6670 extended higher last week and outlook is unchanged. Further rise cannot be ruled out but upside should be limited by 0.6894 resistance. On the downside, break of 0.6710 minor support will turn bias back to the downside for retesting 0.6670 low.

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.

In the longer term picture, prior rejection by 55 month EMA maintained long term bearishness in AUD/USD. That is, down trend from 1.1079 (2011 high) is still in progress. Sustained break of 0.6826 will target 0.6008 low and then 61.8% projection of 1.1079 to 0.6826 from 0.8135 at 0.5507.

Daily Pivots: (S1) 0.6927; (P) 0.6970; (R1) 0.7009; More…

Intraday bias in AUD/USD remains neutral first with focus on 0.7031 key resistance. On the downside, break of 0.6856 minor support will suggest short term topping, after rejection by 0.79031. Intraday bias will be turned back to the downside for pull back towards 0.6569 resistance turned support. Nevertheless, decisive break of 0.7031 will extend the rise from 0.5506.

In the bigger picture, the firm break of 0.6826 (2016 low) now suggests that 0.5506 is a medium term bottom. Rebound from there is likely correcting whole long term down trend form 1.1079 (2011 high). Further rally would be seen to 55 month EMA (now at 0.7326). This will remain the preferred case as long as it stays above 55 week EMA (now at 0.6721).

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) 0.7382; (P) 0.7414; (R1) 0.7445; More…

AUD/USD’s corrective recovery from 0.7328 is still in progress and intraday bias stays neutral. As noted before, we’d expect upside to be limited below 0.7555 resistance to bring fall resumption. Below 0.7382 will target 0.7144/7158 support zone. However, 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. On the upside, 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) 0.6603; (P) 0.6635; (R1) 0.0.6663; More…

AUD/USD’s extended rebound and break of 0.6664 minor resistance suggests that fall from 0.6804 has completed ahead of 0.6563 low. Intraday bias is back on the upside for stronger rise. Still, outlook remains bearish as long as 0.6804 resistance holds, and down trend resumption through 0.6563 low is in favor at a later stage. Nevertheless, sustained break of 0.6804 should indicate completion of whole fall from 0.7156, and turn near term outlook bullish for retesting this high instead.

In the bigger picture, as long as 61.8% retracement of 0.6169 to 0.7156 at 0.6546 holds, the decline from 0.7156 is seen as a correction to rally from 0.6169 (2022 low) only. Another rise should still be seen through 0.7156 at a later stage. However, sustained break of 0.6546 will raise the chance of long term down trend resumption through 0.6169 low.

Daily Pivots: (S1) 0.6551; (P) 0.6596; (R1) 0.6626; More…

AUD/USD’s recovery from 0.6563 continues today but stays below 0.6694 support turned resistance. Intraday bias remains neutral at this point. Focus is on whether 0.6546 fibonacci level would provide strong support to bring reversal. On the upside, break of 0.6694 support turned resistance will indicate short term bottoming, and turn bias back to the upside for rebound to 55 day EMA (now at 0.6803). However, sustained break of 0.6546 will carry larger bearish implication and target 0.6169 low.

In the bigger picture, rise from 0.6169 (2022 low) has completed at 0.7156, after rejection by 55 month EMA (now at 0.7158). Deeper decline would then be see back to 61.8% retracement of 0.6169 to 0.7156 at 0.6546, even as a corrective fall. Sustained break there will raise the chance of long term down trend resumption through 0.6169 low.

Daily Pivots: (S1) 0.7165; (P) 0.7196; (R1) 0.7226; More…

Intraday bias in AUD/USD remains neutral and outlook is unchanged. Further rally will remain in favor as long as 0.7093 support holds. As noted before, larger decline from 0.8006 might have completed at 0.6966 already. Above 0.7440 will resume the rise from 0.6966 for 0.7555 resistance next. However, firm break of 0.7093 will dampen this bullish case and bring retest of 0.6966 low instead.

In the bigger picture, focus remains on 0.6991 key structural support. Sustained break there will argue that the whole up trend from 0.5506 might be finished at 0.8006, after rejection by 0.8135 long term resistance. Deeper decline would then be seen back to 61.8% retracement of 0.5506 to 0.8006 at 0.6461. Meanwhile, strong rebound from 0.6991 will retain medium term bullishness. That is, whole up trend from 0.5506 is still in progress for another rise through 0.8006 at a later stage.

AUD/USD stayed in correction from 0.5506 last week and outlook is unchanged. We’d still expect strong resistance from 61.8% retracement of 0.6684 to 0.5506 at 0.6234 to limit upside. On the downside, break of 0.5870 minor support will turn bias back to the downside for retesting 0.5506 low first. However, sustained break of 0.6234 will dampen immediate bearish case and turn focus back to 0.6684 resistance.

In the bigger picture, AUD/USD’s decline from 0.8135 (2018 high) is still in progress. It’s part of the larger down trend from 1.1079 (2011 high). 61.8% projection of 1.1079 to 0.6826 from 0.8135 at 0.5507 is already met. Sustained break there will pave the way to 0.4773 (2001 low). On the upside, break of 0.6670 support turned resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish even in case of strong rebound.

In the longer term picture, down trend from 1.1079 (2011) is still in progress. It’s a bit early to just the depth of the down trend. But sustained break of 61.8% projection of 1.1079 to 0.6826 from 0.8135 at 0.5507 could pave the way to 100% projection at 0.3882.

Daily Pivots: (S1) 0.7155; (P) 0.7193; (R1) 0.7213; More…

Intraday bias in AUD/USD remains neutral for the moment. On the upside, above 0.7313 will resume the rebound from 0.6992 to 0.7555 resistance. However, break of 0.7128 support will bring retest of 0.6991/2 instead.

In the bigger picture, strong rebound from 0.6991 key structural support will retain medium term bullishness. That is, whole up trend from 0.5506 is still in progress. Firm break of 0.7555 resistance will target 0.8006 high and above. However, sustained break of 0.6991 will argue that the whole up trend from 0.5506 might be finished at 0.8006, after rejection by 0.8135 long term resistance. Deeper decline would then be seen back to 61.8% retracement of 0.5506 to 0.8006 at 0.6461.

Daily Pivots: (S1) 0.7737; (P) 0.7754; (R1) 0.7782; More…

AUD/USD’s consolidation from 0.7712 is still in progress and intraday bias remains neutral. Also with 0.7892 resistance intact, near term outlook remains mildly bearish. Break of 0.7712 will resume the decline from 0.8135 and target 100% projection of 0.8135 to 0.7758 from 0.7988 at 0.7611. Break there will put 0.7500 key support into focus.

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.