Daily Pivots: (S1) 0.7011; (P) 0.7044; (R1) 0.7101; More…

Intraday bias in AUD/USD remains neutral at this point. On the downside, sustained break of 0.6991 key support 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 argue that 0.6991 was defended, and turn bias back to the upside for 0.7180 resistance next.

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.

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) 0.6745; (P) 0.6755; (R1) 0.6773; More…

A temporary low is formed at 0.6737 in AUD/USD and intraday bias is turned neutral first. Some consolidations would be seen but upside should be limited by 0.6849 support turned resistance to bring another decline. Corrective rebound from 0.6670 has completed with three waves up to 0.7031. Break of 0.6737 will pave the way to retest 0.6670 low. However, firm break of 0.6849 will dampen our bearish view and turn focus back to 0.7031 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 0.7484).

AUD/USD’s decline from 0.6898 continued last week but recovered after hitting 0.6594. Initial bias remains neutral week for consolidations. Further decline is in favor as long as 0.6719 resistance holds. Break of 0.6594 will resume the decline 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 be seen but downside should be contained above 0.6169. This will now remain the favored case as high as 0.6898 resistance holds. Nevertheless, break of 0.6898 resistance will argue that rise form 0.6169 is ready to resume through 0.7156.

In the long term picture, fall from 0.8006 is seen as a corrective move to up rise from 0.5506 (2020 low). This correction could have completed at 0.6169. Sustained trading above 55 M EMA (now at 0.7102) will affirm this case, and indicate that rise from 0.5506 is ready to resume. However, firm break of 0.6169 will revive long term bearish ness and turn focus back to 0.5506 low.

Daily Pivots: (S1) 0.6771; (P) 0.6783; (R1) 0.6795; More…

Intraday bias in AUD/USD remains neutral and consolidation from 0.6677 might extend. On the upside, break of 0.6822 will extend the rebound from 0.6677. But upside should be limited below 0.6910 support turned resistance to bring fall resumption. On the downside, break of 0.6677 will target 100% projections of 0.7295 to 0.6831 from 0.7082 at 0.6618.

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) 0.7145; (P) 0.7185; (R1) 0.7223; More…

Further is in favor in AUD/USD with 0.7089 minor support intact, to 55 day EMA (now at 0.7250). Sustained trading above there will raise the chance that whole correction from 0.8006 has completed, after defending 0.6991 key structural support. Further rally would then be seen back to 0.7555 resistance. On the downside, below 0.7089 minor support will turn bias back to the downside for 0.6991 key support again.

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) 0.7627; (P) 0.7652; (R1) 0.7691; More…

Intraday bias in AUD/USD remains neutral at this point. Outlook is unchanged that rebound from 0.7411 is seen as a correction. Hence, upside should be limited by 38.2% retracement of 0.8135 to 0.7144 at 0.7688. On the downside, below 0.7593 minor support will turn bias to the downside for 0.7475 first. Break there will likely resume larger fall through 0.7411 to 0.7328 cluster support (61.8% retracement of 0.6826 to 0.8135 at 0.7326). However, sustained break of 0.7688 will dampen our bearish view and target 61.8% retracement at 0.7585 instead.

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) 0.7497; (P) 0.7517; (R1) 0.7531; More…

AUD/USD is staying in consolidation from 0.7539 and intraday bias remains neutral. Further rally is expected as long as 0.7372 minor support holds. On the upside, decisive break of 0.7555 should confirm that whole corrective decline from 0.8006 has completed at 0.6966. Further rise should then be seen back to retest 0.8005. However, break of 0.7372 will dampen this bullish view and turn bias back to the downside for 0.7164 support instead.

In the bigger picture, correction from 0.8006 could have completed at 0.6966, after drawing support from 0.6991. That is, up trend from 0.5506 (2020 low) might be ready to resume. Firm break of 0.8006 will target 61.8% projection of 0.5506 to 0.8006 from 0.6966 at 0.8511 next. This will remain the favored case as long as 0.7164 support holds.

Daily Pivots: (S1) 0.7578; (P) 0.7604; (R1) 0.7622; More….

No change in AUD/USD’s outlook. With 0.7523 minor support intact, further rise is still expected for 0.7748 resistance and above. At this point, there is no clear sign of range breakout at. Hence, we’d be cautious on topping again as it approaches medium term fibonacci level at 0.7849. Meanwhile, break of 0.7523 will argue that rebound from 0.7328 is possibly completed. In that case, intraday bias will be turned back to the downside for 0.7370 support.

In the bigger picture, we’re still treating price actions from 0.6826 low as a corrective 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 0.8116) and above.

Daily Pivots: (S1) 0.7405; (P) 0.7441; (R1) 0.7487; More…

Intraday bias in AUD/USD remains mildly on the upside at this point. Current development suggests that whole correction from 0.8006 has completed at 0.7105 already, just above 0.6991/7051 support zone. Rise from 0.7105 should target 0.7530 support turned resistance first. Sustained break there will bring retest of 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) 0.6344; (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) 0.6735; (P) 0.6756; (R1) 0.6786; More…

Intraday bias in AUD/USD remains neutral and outlook is unchanged. Further rise is expected as long as 0.6521 resistance turned support holds. On the upside, break of 0.6796 will resume the rise from 0.6169 to 0.6871 fibonacci level. However, sustained break of 0.6521 will argue that whole rebound from 0.6169 is over, and bring deeper fall to retest this low.

In the bigger picture, a medium term bottom is in place at 0.6160 already. But it’s too early to call for trend reversal. Nevertheless, even as a corrective move, rise from 0.6169 should target 38.2% retracement of 0.8006 to 0.6169 at 0.6871. Sustained trading above 55 week EMA (now at 0.6923) will raise the chance of the start of a bullish up trend. This week now remain the favored case as long as 0.6521 resistance turned support holds.

Daily Pivots: (S1) 0.6996; (P) 0.7010; (R1) 0.7025; More…

Intraday bias in AUD/USD remains neutral for the moment. With 0.6982 minor support intact, further rise is in favor. On the upside, break of 0.7047 will resume the rebound from 0.6831 for 61.8% retracement of 0.7295 to 0.6831 at 0.7118. Sustained trading above will pave the way to 0.7205 resistance next. On the downside, break of 0.6983 minor support will turn bias to the downside for 0.6910 support instead.

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.

Daily Pivots: (S1) 0.7770; (P) 0.7789; (R1) 0.7817; More…

Intraday bias in AUD/USD remains on the upside as rebound from 0.7775 is still in progress. Further rise would be seen to 0.7896 cluster resistance (61.8% retracement of 0.8124 to 0.7500 at 0.7886). On the downside, break of 0.7694 support is needed to indicate completion of the rebound. Otherwise, further rally will remain in favor in case of retreat.

In the bigger picture, we’re still slightly favoring the case that corrective rise from 0.6826 medium term bottom is likely completed at 0.8124, after hitting 55 month EMA (now at 0.8034). 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) 0.6589; (P) 0.6613; (R1) 0.6642; More…

Intraday bias in AUD/USD remains neutral and outlook is unchanged. We’d continue to expect strong resistance from 0.6662 cluster resistance (38.2% retracement from 0.7031 to 0.6433 at 0.6661) to limit upside. Break of 0.6509 minor support will turn bias to the downside for retesting 0.6433 low. Nevertheless, break of 0.6662 will bring stronger corrective rise to 61.8% retracement at 0.6803.

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). Rejection by 55 week EMA affirms medium term bearishness. Next target is 0.6008 (2008 low). Outlook will stay bearish as long as 0.7031 resistance holds, even in case of strong rebound.

Daily Pivots: (S1) 0.6816; (P) 0.6857; (R1) 0.6939; More…

AUD/USD’s rally accelerates to as high as 0.6983 so far. There is no sign of topping yet and intraday bias stays on the upside for 0.7031 resistance. On the downside, break of 0.6847 minor support will turn intraday bias neutral first. But near term outlook will stays bullish as long as 0.6569 resistance turned support holds, in case of retreat.

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 corrective whole long term down trend form 1.1079 (2011 high). Further rally would be seen to 55 month EMA (now at 0.7365). This will remain the preferred case as long as it stays above 55 week EMA (now at 0.6710).

Daily Pivots: (S1) 0.7464; (P) 0.7502; (R1) 0.7577; More…

AUD/USD accelerates to as high as 0.7571 so far and intraday bias remains on the upside. Current rally 0.5506 should target 0.7635 key long term fibonacci level. Sustained break there should confirm long term trend reversal. On the downside, break of 0.7485 minor support will turn intraday bias neutral, and bring consolidations, before staging another rally.

In the bigger picture, the sustained trading above 55 week EMA (now at 0.6978) is a sign of medium term bullishness. Nevertheless, AUD/USD will still need to overcome 38.2% retracement of 1.1079 (2011 high) to 0.5506 (2020 low) at 0.7635 decisively to indicate completion of long term down trend from 1.1079. Otherwise, current rebound from 0.5506 could still turn out to be a correction in the long term down trend.

Daily Pivots: (S1) 0.7045; (P) 0.7097; (R1) 0.7146; More…

Intraday bias in AUD/USD remains neutral as consolidation from 0.7029 temporary low is extending. Further decline is still expected as long as 0.7228 minor resistance holds. As noted before, fall from 0.7660 is seen as the third leg of the larger correction from 0.8006. Below 0.7029 will target 0.6966 low first. Firm break there will confirm this bearish case and target 0.6756 medium term fibonacci level next. Nevertheless, considering bullish convergence condition in 4 hour MACD, break of 0.7228 should indicate short term bottoming, and turn bias back to the upside for stronger rebound.

In the bigger picture, price actions from 0.8006 are seen as a corrective pattern to rise from 0.5506 (2020 low). Fall from 0.7660 should be the third leg of this pattern. Break of 0.6966 will target 50% retracement of 0.5506 to 0.8006 at 0.6756. On the upside, break of 0.7660 will revive that case that the correction has already completed at 0.6966.

Daily Pivots: (S1) 0.6971; (P) 0.7020; (R1) 0.7096; More…

Intraday bias in AUD/USD stays neutral and outlook remains bearish as with 0.7282 resistance intact. On the downside, firm break of 0.6828 support will resume larger fall from 0.8006. Next target is 0.6756/60 cluster support. However, firm break of 0.7282 will be a sign of bullish reversal and bring stronger rebound to 0.7666 resistance.

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) 0.6683; (P) 0.6721; (R1) 0.6746; More…

Intraday bias in AUD/USD remains mildly on the downside at this point. Pull back from 0.6870 short term top is in progress. But strong support would be seen from channel support (now at 0.6677) to bring rebound. On the upside, above 0.6759 minor resistance will turn bias back to the upside for retesting 0.6870. However, sustained break of 0.6689 will bring deeper decline to 55 D EMA (now at 0.6612).

In the bigger picture, there is no confirmation that down trend from 0.8006 (2021 high) has completed. Price actions from 0.6169 (2022 low) could be just a medium term corrective pattern. Rise from 0.6269 is seen as the third leg of the pattern. For now, range trading should be seen between 0.6169 and 0.7156 (2023 high), until further developments.