Daily Pivots: (S1) 0.6836; (P) 0.6866; (R1) 0.6891; More…

Intraday bias in AUD/USD stays neutral first. The correction from 0.7064 is expected to extend with at least one more down leg. On the downside, break of 0.6776 will turn bias to the downside for 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 from 1.1079 (2011 high). Further rally would be seen to 55 month EMA (now at 0.7323). This will remain the preferred case as long as it stays above 55 week EMA (now at 0.6721). Sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

Daily Pivots: (S1) 0.7219; (P) 0.7255; (R1) 0.7292; More…

AUD/USD’s break of 0.7275 confirms resumption of whole rise from 0.5506. Intraday bias is back on the upside, with focus on 0.7311 long term EMA. Sustained trading above there will pave the way to 0.7635 fibonacci level. On the downside, break of 0.7135 support should indicate short term topping and bring correction.

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). Firm break there will target 38.2% retracement of 1.1079 (2011 high) to 0.5506 (2020 low) at 0.7635. This will remain the preferred case as long as it stays above 55 week EMA (now at 0.6853). However, sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

Daily Pivots: (S1) 0.7426; (P) 0.7456; (R1) 0.7474; More…

Intraday bias in AUD/USD remains on the downside for 0.7411 support. Break will resume larger fall from 0.8135 for 0.7328 cluster support (61.8% retracement of 0.6826 to 0.8135 at 0.7326). On the upside, break of 0.7528 minor resistance is needed to indicate completion of the fall from 0.7676. Otherwise, outlook will remain cautiously bearish in case of recovery.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. Prior break of 0.7500 key support suggests that such correction is completed at 0.8135. 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) 0.7826; (P) 0.7844; (R1) 0.7880; More…

AUD/USD’s recovery from 0.7758 extends higher today but it’s staying below 0.7909 minor resistance. Intraday bias stays neutral and deeper decline remain in favor. Break of 0.7758 will extend the fall from 0.8135 to 0.7500 key support. At this point, there is no clearly sign of larger trend reversal yet. Hence, we’d look for strong support from 0.7500 to contain downside and bring rebound. On the upside, above 0.7909 minor resistance will turn bias back to the upside for retesting 0.8135 high.

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) 0.6749; (P) 0.6764; (R1) 0.6775; More…

With 0.6795 minor resistance intact, intraday bias in AUD/USD remains mildly on the downside. Current fall from 0.6929 should target a test on 0.6670 low. On the upside, above 0.6795 minor resistance will turn intraday bias neutral and bring consolidations, before staging another decline.

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) 0.7053; (P) 0.7068; (R1) 0.7093; More…

A temporary low should be in place at 0.7040 in AUD/USD with today’s recovery. Intraday bias is turned neutral for consolidation first. Stronger recovery could be seen to 4 hour 55 EMA (now at 0.7136). But upside should be limited well below 0.7314 resistance to bring fall resumption. Break of 0.7040 will resume whole down trend from 0.8135 to 61.8% projection of 0.7676 to 0.7084 from 0.7314 at 0.6948 next.

In the bigger picture, 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, break of 0.7500 support turned resistance will argue that the corrective pattern from 0.6826 is going to extend with another rising leg before completion.

AUD/USD edged higher to 0.7047 last week but dropped sharply since then. Yet, as downside is contained above 0.6956 support, initial bias is neutral this week first. On the upside, break of 0.7047 will resume the rebound from 0.6831 to 61.8% retracement of 0.7295 to 0.6831 at 0.7118 first. Sustained break till target 0.7295 resistance next. On the downside, break of 0.6956 support, however, will indicate completion of the rebound. Intraday bias will be turned back to the downside for retesting 0.6831 low.

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) 0.7752; (P) 0.7775; (R1) 0.7805; More…

Breach of 0.7809 temporary top suggests rebound from 0.7642 is resuming. Intraday bias in AUD/USD is back on the upside for 0.7915 resistance next. Decisive break there should confirm whole decline from 0.8135 has completed at 0.7642. In that case, further rally should be see back to retest 0.8135 high. However, break of 0.7743 minor support will turn bias back to the downside for 0.7642 low instead.

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. In that case, AUD/USD would be heading back to 0.6826 low in medium term.

Daily Pivots: (S1) 0.6532; (P) 0.6553; (R1) 0.6572; More…

Intraday bias in AUD/USD remains neutral for the moment, and further decline is in favor with 0.6621 resistance intact. On the downside, below 0.6520 minor support will turn bias to the downside for retesting 0.6442 first. Firm break there will resume the the decline from 0.6870 towards 0.6269 low. Nevertheless, considering bullish convergence condition in 4H MACD, decisive break of 0.6621 will turn near term outlook bullish for 0.6870 resistance 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.

AUD/USD’s rebound from 0.6831 extended higher last week and is now pressing 0.7022 resistance. At this point, we’d still expect rejection from 0.7022 to complete the rebound. On the downside, break of 0.6941 minor support will turn bias back to the downside for retesting 0.6831 low. However, firm break of 0.7022 will indicate near term bullish reversal and turn outlook bullish for 0.7205 resistance next.

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) 0.7235; (P) 0.7269; (R1) 0.7290; More…

A temporary top is in place at 0.7302, ahead of 0.7314 key resistance. Intraday bias in AUD/USD is turned neutral first. Another rise is mildly in favor as long as 0.7182 minor support holds. Decisive break of 0.7314 will confirm medium term bottoming at 0.7020. In that case, next target will be 38.2% retracement of 0.8135 to 0.7020 at 0.7446. However, on the downside, break of 0.7182 minor support will suggest that the rebound is completed. And, intraday bias will be turned back to the downside for 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) 0.7668; (P) 0.7693; (R1) 0.7711; More…

Intraday bias in AUD/USD remains neutral for the moment. On the upside, break of 0.7774 resistance will suggest that pull back from 0.7890 has completed. Intraday bias will be turned back to the upside for 0.7890 resistance next. On the downside, though, break of 0.7664 will resume the fall from 0.7890 to 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.

AUD/USD’s rebound from 0.7169 continued last week and hit as high as 0.7439. Initial bias stays on the upside this week for 0.7477 resistance first. Firm break there will argue that larger decline from 0.8006 has completed and turn near term outlook bullish. Next target is 100% projection of 0.7105 to 0.7477 from 0.7169 at 0.7541, and then 161.8% projection at 0.7771. On the downside, though, below 0.7322 minor support will dampen the bullish case and turn intraday bias neutral again first.

In the bigger picture, with 0.6991 cluster support (38.2% retracement of 0.5506 to 0.8006 at 0.7051) intact, we’re seeing price action from 0.8006 as a correction only. That is, up trend from 0.5506 low would resume after the correction completes. In that case, main focus will be 0.8135 key resistance (2018 high). Sustained break there will carry larger bullish implications. However, sustained break of 0.6991 will argue that the whole medium term trend has indeed reversed.

In the longer term picture, focus remains on 0.8135 structural resistance. Decisive break there will argue that rise from 0.5506 is developing into a long term up trend that reverses whole down trend from 1.1079 (2011 high). In that case, further rally would be seen to 61.8% retracement of 1.1079 to 0.5506 at 0.8950 and possibly above. Rejection by 0.8135 will keep long term outlook neutral at best.

Daily Pivots: (S1) 0.7176; (P) 0.7202; (R1) 0.7220; More…

AUD/USD’s fall is still in progress and intraday bias remains on the downside for 0.7169 support first. Decisive break there will affirm the case that larger decline from 0.8006 is resuming. Next target is 0.7105 support for confirmation. On the upside, break of 0.7272 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another fall.

In the bigger picture, with 0.6991 cluster support (38.2% retracement of 0.5506 to 0.8006 at 0.7051) intact, we’re seeing price action from 0.8006 as a correction only. That is, up trend from 0.5506 low would resume after the correction completes. In that case, main focus will be 0.8135 key resistance (2018 high). Sustained break there will carry larger bullish implications. However, sustained break of 0.6991 will argue that the whole medium term trend has indeed reversed.

Daily Pivots: (S1) 0.7252; (P) 0.7276; (R1) 0.7296; More…

Intraday bias in AUD/USD remains on the downside with 0.7322 minor resistance intact. Current fall is part of the down trend from 0.8135 high. Deeper decline should be seen to 61.8% projection of 0.7676 to 0.7309 from 0.7452 at 0.7225 first. Break will target 100% projection at 0.7085 next. On the upside, above 0.7322 minor resistance will turn intraday bias and bring consolidation. But recovery should be limited below 0.7452 resistance to bring fall resumption.

In the bigger picture, medium term rebound from 0.6826 (2016 low) is seen as a corrective move that should be completed at 0.8135. Sustained break of 0.7328 cluster support (61.8% retracement of 0.6826 to 0.8135 at 0.7326) should pave the way to retest 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 might indicate medium term bottoming. But we’ll continue to favor the bearish view as long as 0.7676 resistance holds.

AUD/USD’s gyrated higher last week but outlook is unchanged. Initial bias stays neutral this week for some more consolidations. But further decline is expected as long as 0.6520 resistance holds. Break of 0.6356 will resume larger down trend to 100% projection of 0.7156 to 0.6457 from 0.6894 at 0.6195.

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.

Daily Pivots: (S1) 0.6640; (P) 0.6671; (R1) 0.6723; More…

AUD/USD dips mildly today but stays inside established range above 0.6594. Intraday bias remains neutral for the moment. With 0.6710 resistance intact, further decline is in favor. On the downside, break of 0.6594 will resume the decline from 0.6898 to 0.6457 support next. Nevertheless, firm break of 0.6719 will turn bias back to the upside for stronger rebound.

In the bigger picture, price actions from 0.7156 are seen as a correction to the rebound from 0.6169 only, rather than part of larger down trend from 0.8006 (2021 high). Break of 0.6457 could cannot be ruled out but downside should be contained above 0.6169. Meanwhile, nevertheless, break of 0.6898 resistance will argue that rise from 0.6169 is ready to resume through 0.7156.

Daily Pivots: (S1) 0.7422; (P) 0.7442; (R1) 0.7457; More…

Despite some loss of upside momentum, with 0.7394 minor support intact, intraday bias stays on the upside for 0.7503 support turned resistance. Correction from 0.8006 should have completed at 0.7105 already. Sustained break of 0.7530 will pave the way to retest 0.8006 high. On the downside, break of 0.7394 minor support will turn intraday bias neutral and bring consolidations first.

In the bigger picture, with 0.6991 cluster support (38.2% retracement of 0.5506 to 0.8006 at 0.7051) intact, we’re seeing price action form 0.8006 as a correction only. That is, up trend from 0.5506 low would resume after the correction completes. In that case, main focus will be 0.8135 key resistance (2018 high). Sustained break there will carry larger bullish implications. However, sustained break of 0.6991 will argue that the whole medium term trend has indeed reversed.

Daily Pivots: (S1) 0.6802; (P) 0.6848; (R1) 0.6928; More…

AUD/USD’s rally accelerates to as high as 0.6898 so far today. The strong break of 0.6817 resistance should confirm that corrective fall from 0.7156 has completed with three waves down to 0.6457. Intraday bias remains on the upside for retesting 0.7156 high next. On the downside, below 0.6806 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.

In the bigger picture,decline from 0.7156 could have completed in a three wave corrective structure at 0.6457. The development argues that rise from 0.6169 (2022 low) is still in progress. Firm break of 0.7156 will also add to the case that whole down trend from 0.8006 (2021 high) has finished and turn medium term outlook bullish. For now this will be the favored case as long as 0.6457 support holds, even in case of deep pull back.

Daily Pivots: (S1) 0.6825; (P) 0.6864; (R1) 0.6892; More…

AUD/USD is staying in range below 0.7064 short term to and intraday bias remains neutral. 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.