Daily Pivots: (S1) 0.7041; (P) 0.7057; (R1) 0.7083; More…

AUD/USD continues to lose downside momentum as seen in 4 hour MACD. But with 0.7148 resistance intact, further fall is still expected to 0.7020 support. Decisive break there will resume larger decline from 0.8135 for 0.6826 key support. However, firm break of 0.7148 will suggest that correction from 0.7020 is extending with another rise. Intraday bias will then be turned back to the upside for 0.7393 resistance.

In the bigger picture, price actions from 0.7020 are corrective in nature. In case such corrective pattern extends, upside should be limited by 38.2% retracement of 0.8135 to 0.7020 at 0.7446 to bring down trend resumption. Firm break of 0.7020 will extend medium term decline from 0.8135 to retest 0.6826 (2016 low).

Daily Pivots: (S1) 0.6800; (P) 0.6829; (R1) 0.6847; More…

Intraday bias in AUD/USD remains neutral with focus on 0.6810 resistance turned support. Firm break should indicate completion of corrective rebound from 0.6677. Intraday bias will be turned to the downside for 0.6723 support first. Break will target 0.6670 low. On the upside in case of another rise, upside should be limited by 0.6894 resistance to bring larger down trend resumption. However, firm break of 0.6894 will dampen our bearish view and turn focus back to 0.7082 key resistance.

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.

Daily Pivots: (S1) 0.7135; (P) 0.7177; (R1) 0.7203; More…

Intraday bias in AUD/USD remains neutral for the moment. Further rise is in favor as long as 0.7095 support holds. On the upside, above 0.7243 will extend the rebound from 0.7005 to retest 0.7413 high. Decisive break there will resume larger rise form 0.5506 to 0.7635 fibonacci level. However, firm break of 0.7095 will argue that corrective fall from 0.7413 is resuming through 0.7005.

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 corrective inside the long term up trend. Sustained trading back below 55 week EMA (now at 0.6898) 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) 0.6838; (P) 0.6890; (R1) 0.6922; More… .

Intraday bias in AUD/USD remains on the downside for the moment. Current development argues that corrective rise from 0.6670 has completed with three waves up to 0.7031. Break of 0.6838 will affirm this bearish case and target 0.6754 structural support for confirmation. On the upside, above 0.6930 minor resistance will dampen this case and turn bias to the upside for retesting 0.7031 resistance.

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 0.7506).

Daily Pivots: (S1) 0.7262; (P) 0.7303; (R1) 0.7369; More…

Intraday bias in AUD/USD remains neutral at this point. More consolidation could be seen. But in case of another rise, we’d expect upside to be limited by 0.7452 resistance to bring larger down trend resumption eventually. On the downside, below 0.7237 will target a test on 0.7201 low first.

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 correction should be seen first, with stronger rebound would be seen to 38.2% retracement of 0.8135 to 0.7201 at 0.7558. The down trend from 0.8135 will resume after the correction completes.

AUD/USD recovered to 0.7209 last week but failed to sustain above 0.7192 support turned resistance. Initial bias is neutral this week first. On the upside, break of 0.7209 and sustained trading above 0.7192 should confirm completion of the pull back from 0.7413. Further rise should be seen back to retest 0.7413 high. On the downside, break of 0.7005 will resume the correction to 38.2% retracement of 0.5506 to 0.7413 at 0.6685.

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 corrective inside the long term up trend. Sustained trading back below 55 week EMA (now at 0.6896) 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.

In the longer term picture, bullish convergence condition in monthly MACD is a condition for long term bullish reversal. Yet, AUD/USD struggled to sustain above 55 month EMA (now at 0.7309). It’s also limited below 38.2% retracement of 1.1079 (2011 high) to 0.5506 (2020 low) at 0.7635. Hence, there is not enough evidence for reversal yet. Down trend from 1.1079 could still extend through 0.5506 at a later stage.

Daily Pivots: (S1) 0.7105; (P) 0.7132; (R1) 0.7162; More…

Intraday bias in AUD/USD remains neutral at this point. Further fall is mildly in favor with 0.7243 resistance intact. On the downside, break of 0.7005 will resume the corrective fall from 0.7413, and target 38.2% retracement of 0.5506 to 0.7413 at 0.6685. However, firm break of 0.7243 will bring retest of 0.7413 high.

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) 0.7071; (P) 0.7117; (R1) 0.7142; More…

Intraday bias in AUD/USD is turned neutral as a temporary top was formed at 0.7183, inch below 61.8% projection of 0.6402 to 0.7064 from 0.6776 at 0.7185. Some consolidation could be seen but further rise is expected as long as 0.6963 support holds. Sustained break of 0.7185 will target t long term EMA level at 0.7311 next.

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 0.6750). Sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

Daily Pivots: (S1) 0.6850; (P) 0.6886; (R1) 0.6921; More…

Intraday bias in AUD/USD remains neutral as sideway trading continues. On the upside, firm break of 0.7031/64 is needed to confirm rise resumption. Otherwise, risk will stay mildly on the downside in case of recovery. On the downside, break of 0.6676 will extend the fall form 0.7064 to 38.2% retracement of 0.5506 to 0.7064 at 0.6469.

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 0.6717). Sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

Daily Pivots: (S1) 0.7507; (P) 0.7546; (R1) 0.7570; More…

Intraday bias in AUD/USD is neutral with a temporary top at 0.7608. Above 0.7608 will extend the rise from 0.7158. But we’d expect upside to be limited by 0.7777/7833 resistance zone to bring near term reversal. On the downside, break of 0.7448 will indicate that rebound from 0.7158 is completed and 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. 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) 0.7654; (P) 0.7681; (R1) 0.7699; More…

AUD/USD is still bounded in range of 0.7605/7740 for the moment. Intraday bias stays 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 0.7559) 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) 0.7195; (P) 0.7225; (R1) 0.7262; More…

AUD/USD rebounds strongly today but stays below 0.7302 temporary top. Intraday bias remains neutral first. On the upside, decisive break of 0.7314 will indicate medium term reversal. Further rally should be seen to 38.2% retracement of 0.8135 to 0.7020 at 0.7446 next. However, break of 0.7164 will suggest that rebound from 0.7020 has completed and maintain medium term bearishness. Intraday bias would be turned back to the downside for retesting 0.7020 low.

In the bigger picture, as long as 0.7314 resistance holds, fall from 0.8135 is tentatively treated as resuming long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 will target 0.6008 key support next (2008 low). However, firm break of 0.7314 will suggest that whole decline from 0.8135 has completed. And, the corrective pattern from 0.6826 (2016 low) is extending with another rising leg towards 0.8135 before completion.

Daily Pivots: (S1) 0.7179; (P) 0.7236; (R1) 0.7275; More…

Intraday bias in AUD/USD remains neutral for the moment. We’re still slightly favoring the case that correction from 0.8006 is complete after defending 0.6991. Above 0.7313 will extend the rise from 0.6992 to 0.7555 resistance. However, break of 0.7128 support will dampen this bullish case and 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) 0.6509; (P) 0.6531; (R1) 0.6560; More…

Intraday bias in AUD/USD stays mildly on the downside at this point. 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.

Daily Pivots: (S1) 0.6461; (P) 0.6491; (R1) 0.6513; More…

Intraday bias in AUD/USD is turned neutral with current recovery. But further decline is expected as long as 0.6621 resistance holds. Break of 0.6468 will resume the fall from 0.6870, as part of the down trend from 0.7156, to 61.8% projection of 0.6870 to 0.6524 from 0.6621 at 0.6407 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 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) 0.7113; (P) 0.7130; (R1) 0.7144; More…

Intraday bias in AUD/USD remains neutral at this point and some more consolidations could be seen. With 0.7342 resistance intact, further decline is expected. On the downside, break of 0.7005 will resume the corrective fall from 0.7413, and target 38.2% retracement of 0.5506 to 0.7413 at 0.6685. However, firm break of 0.7243 will bring retest of 0.7413 high.

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) 0.6527; (P) 0.6539; (R1) 0.6557; More…

AUD/USD recovered after drawing support from 4 hour 55 EMA, but stays below 0.6616. Intraday bias remains neutral first and outlook is unchanged. Rebound from 0.5506 might still extend. However, considering persistent bearish divergence condition in 4 hour MACD, in case of another rise, upside should be limited by 0.6670 key resistance, at least on first attempt. On the downside, break of 0.6402 support will confirm short term topping and turn bias to the downside for 38.2% retracement of 0.5506 to 0.6616 at 0.6192.

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) 0.6608; (P) 0.6623; (R1) 0.6642; More…

Intraday bias in AUD/USD is turned neutral with current retreat. Some consolidations could be seen but further rally is expected as long as 0.6464 support holds. As noted before, fall from 0.6870 could have completed with three waves down to 0.6361. Above 0.6645 will target 100% projection of 0.6361 to 0.6585 from 0.6464 at 0.6688 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 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) 0.7614; (P) 0.7657; (R1) 0.7687; More…

AUD/USD is still holding in range above 0.7624 support and intraday bias remains neutral at this point. More consolidation could still be seen. But after al, 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) 0.7764; (P) 0.7777; (R1) 0.7793; More…

Intraday bias in AUD/USD remains on the upside for 0.7819 resistance. Decisive break there will resume larger up trend from 0.5506, for 61.8% projection of 0.6991 to 0.7819 from 0.7563 at 0.8075. On the downside, break of 0.7717 minor support will delay the bullish case and extend the correction from 0.7819 with another fall.

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.