Daily Pivots: (S1) 0.6961; (P) 0.7003; (R1) 0.7039; More…

Intraday bias in AUD/USD is turned neutral first, as it recovered after breaching 0.6991 key support. On the downside, sustained break of 0.6991 will confirm resumptions of whole down trend from 0.8006. Next target is 100% projection of 0.7555 to 0.6992 from 0.7313 at 0.6750. However, break of 0.7089 minor resistance will mix up the near term outlook.

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.

Daily Pivots: (S1) 0.7719; (P) 0.7745; (R1) 0.7773; More…

Intraday bias in AUD/USD remains neutral first and correction from 0.8006 could extend further. On the upside, above 0.7848 will bring retest of 0.8006 high. However, break of 0.7629 support will resume the fall from 0.8006. Firm break of 0.7563 will indicate that deeper correction is underway, back towards 0.7413 resistance turned 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) 0.7840; (P) 0.7857; (R1) 0.7879; More…

AUD/USD weakens today but downside is contained above 0.7804 minor support. Intraday bias remains neutral first. Considering bearish divergence condition in 4 hour MACD, even in case of another rise, upside should be limited by 0.7896 cluster resistance (61.8% retracement of 0.8124 to 0.7500 at 0.7886) resistance zone to bring short term topping. Break of 0.7804 minor support will turn bias to the downside for 55 day EMA (now at 0.7711).

In the bigger picture, we’re still slightly favoring the case that corrective rise from 0.6826 medium term bottom is completed at 0.8124, after hitting 55 month EMA (now at 0.8032). 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) 0.7183; (P) 0.7226; (R1) 0.7248; More…

Intraday bias in AUD/USD remains on the downside at this point. Corrective rebound from 0.7084 has completed at 0.7314 already. Deeper fall should be seen to 0.7143 support first. Break should resume whole decline from 0.8135 through 0.7804 support. In case of another rise, upside should be limited well below 0.7361 resistance to complete the correction and bring down trend resumption eventually.

In the bigger picture, rebound from 0.6826 (2016 low) is seen as a corrective move that should be completed at 0.8135. Fall from there would extend to have a test on 0.6826. There is prospect of resuming long term down trend from 1.1079 (2011 high). Current downside momentum as seen in weekly MACD support this bearish case. Firm break of 0.6826 will target 0.6008 key support next (2008 low). On the upside, break of 0.7361 resistance, however, argues that a medium term bottom is possibly in place, and stronger rebound could follow. We’ll assess the medium term outlook later if this happens.

Daily Pivots: (S1) 0.6566; (P) 0.6602; (R1) 0.6643; More…

Intraday bias in AUD/USD stays mildly on the upside at this point. Rebound from 0.6457 would target 55 D EMA (now at 0.6659). Sustained break there will target 0.6817 resistance next. Nevertheless, rejection by 55 D EMA will keep near term outlook bearish. Below 0.6566 minor support will turn bias back to the downside for retesting 0.6457 low.

In the bigger picture, rejection by 55 W EMA (now at 0.6811) keeps medium term outlook bearish. Current development suggests that down trend from 0.8006 (2021 high) is possibly still in progress. Retest of 0.6169 (2022 low) should be seen next. Firm break there will confirm down trend resumption. For now, this will remain the favored case as long as 0.6817 resistance holds.

Daily Pivots: (S1) 0.6713; (P) 0.6738; (R1) 0.6789; More…

AUD/USD rebounded strongly ahead of 0.6677. But still, it’s staying in consolidation between 0.6677/6822. Intraday bias remains neutral first. On the downside, break of 0.6677 will resume larger down trend to 100% projections of 0.7295 to 0.6831 from 0.7082 at 0.6618. On the upside, above 0.6822 will bring stronger rebound instead.

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) 0.6891; (P) 0.6906; (R1) 0.6917; More…

Intraday bias in AUD/USD remains neutral for consolidation above 0.6849 temporary low. Outlook is unchanged that rebound from 0.6670 could have completed with three waves up to 0.7031. On the downside, break of 0.6849 will target 0.6754 support to confirm this bearish case. However, break of 0.6930 will turn focus back to 0.7031 resistance instead.

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 0.7487).

Daily Pivots: (S1) 0.6972; (P) 0.6987; (R1) 0.7013; More…

Intraday bias in AUD/USD is turned neural with today’s strong rebound. Though, as long as 0.7069 resistance holds, near term outlook stays cautiously bearish and deeper decline is expected. On the downside, break of 0.6962 will resume the fall from 0.7295 to 100% projection of 0.7295 to 0.7003 from 0.7205 at 0.6913. Decisive break there will indicate further downside acceleration and pave the way to retest 0.6722 low. However, considering bullish convergence condition in 4 hour MACD, firm break of 0.7069 will indicate near term bottoming and turn bias back to the upside for 0.7205 resistance and above.

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.

AUD/USD’s fall from 0.8124 extended lower last week and breached 0.7807 support. But it cannot sustain below this level yet. Initial bias stays neutral this week first, with focus on 0.7807. Considering bearish divergence condition in daily MACD, firm break of 0.7807 will indicate near term reversal. Outlook will then be turned bearish for 55 week EMA (now at 0.7669) first. Meanwhile, rebound from 0.7807 will retain bullishness. Above 0.7907 minor resistance will turn bias back to the upside for retesting 0.8124 high.

In the bigger picture, rise from 0.6826 medium term bottom is seen as corrective pattern. In case of further rally, strong resistance should be seen at 38.2% retracement of 1.1079 to 0.6826 at 0.8451 to limit upside. Meanwhile, firm break of 0.7807 is the first signal that such correction is focused. Break of 0.7328 will bring retest of 0.6826 low.

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.

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) 0.6817; (P) 0.6836; (R1) 0.6851; More…

AUD/USD is staying in consolidation from 0.6862 and intraday bias remains neutral first. Further rise is mildly in favor as long as 0.6754 support holds. On the upside, above 0.6862 will target 0.6929 resistance first. Break there will resume the rebound from 0.6670 and target 100% projection of 0.6670 to 0.6929 from 0.6754 at 0.7013. On the downside, break of 0.6754 will resume the fall form 0.6929 to retest 0.6670 low.

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 0.7525).

Daily Pivots: (S1) 0.6381; (P) 0.6417; (R1) 0.6440; More…

Intraday bias in AUD/USD remains neutral at this point. We’d still expect fall from 0.6569 short term top to extend lower. On the downside, below 0.6372 will target 0.6253 support first. Break there should indicate completion of whole rise from 0.5506 and target 38.2% retracement of 0.5506 to 0.6569 at 0.6163. On the upside, break of 0.6569 will extend the rebound to 0.6670 key resistance instead.

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.

Daily Pivots: (S1) 0.6520; (P) 0.6545; (R1) 0.6568; More…

Intraday bias in AUD/USD remains neutral for the moment. More consolidations could be seen below 0.6588. But downside should be contained above 0.6451 support to bring another rally. On the upside, above 0.6588 will resume the rebound from 0.6269 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.

Daily Pivots: (S1) 0.6464; (P) 0.6548; (R1) 0.6596; More…

Intraday bias in AUD/USD remains on the downside for the moment. Decisive break of 0.6480 support will argue that is ready to resume through 0.6442. Next target will be 61.8% projection of 0.6870 to 0.6442 from 0.6643 at 0.6378. For now, risk will stay mildly on the downside as long as 0.6643 resistance holds, in case of recovery.

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.

AUD/USD’s decline last week suggested that corrective recovery from 0.6864 has completed 0.7022, after rejection by 55 day EMA. Late breach of 0.6864 support argues that fall from 0.7295 is resuming. Initial bias stays on the downside this week. Sustained trading below 0.6864 will pave the way to 0.6722 low. On the upside, break of 0.6918 will delay the bearish case and turn intraday bias neutral first.

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.

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) 0.7483; (P) 0.7495; (R1) 0.7515; More…

Intraday bias stays on the downside with 0.7531 minor resistance intact. Rise from 0.7158 is already completed at 0.7748. And, near term trend has reversed. Deeper fall should be seen back to 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) 0.7658; (P) 0.7689; (R1) 0.7740; More…

AUD/USD’s rise resumed by taking out 0.7695 and reaches as high as 0.7731 so far. Intraday bias is back on the upside for 0.7777 resistance next. 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 0.7517) 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.

Subscribe to our daily and mid-day newsletter to get this report delivered to your mail box

Daily Pivots: (S1) 0.6804; (P) 0.6879; (R1) 0.6928; More…

Intraday bias in AUD/USD stays on the downside for the moment. Current fall is part of the decline from 0.8006 and should target 0.6756 medium term fibonacci level next. On the upside, break of 0.7029 support turned resistance will turn intraday bias neutral again first. But outlook will remain bearish as long as 0.7265 resistance holds.

In the bigger picture, price actions from 0.8006 are seen as a corrective pattern to rise from 0.5506 (2020 low) with fall from 0.7660 as the third leg. Deeper fall should 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. However, sustained break of 0.6756/60 would argue that AUD/USD is indeed in a medium term down trend.

AUD/USD rebounded notably last week but upside was capped at 0.6618 and retreated. Initial bias is turned neutral this week first. On the upside, above 0.6618 will bring further rally to 0.6666 resistance. Break there will resume whole rebound from 0.6442. however, 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.

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, strong support should emerge above 0.5506 to bring reversal.

Daily Pivots: (S1) 0.7153; (P) 0.7185; (R1) 0.7225; More…

AUD/USD continues to edge lower with weak downside momentum as seen in 4 hour MACD. For now, deeper fall is expected as long as 0.7234 minor resistance holds, Next target is 100% projection of 0.7452 to 0.7201 from 0.7361 at 0.7110. Break will target 161.8% projection at 0.6955. However, break of 0.7234 will indicate short term bottoming and bring lengthier consolidations.

In the bigger picture, rebound from 0.6826 (2016 low) is seen as a corrective move that should be completed at 0.8135. Fall from there would extend to have a test on 0.6826. There is prospect of resuming long term down trend from 1.1079 (2011 high). But we’ll look at downside momentum to assess at a later stage. On the upside, break of 0.7452 resistance, however, will indicate medium term bottoming, on bullish convergence condition in daily MACD. In that case, a medium term correction should be seen first before down trend resumption.