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.

Daily Pivots: (S1) 0.6897; (P) 0.6976; (R1) 0.7023; More…

AUD/USD’s decline resumed after brief consolidations and intraday bias is back on the downside. Current fall is p[art of the decline from 0.8006 and should target 0.6756 medium term fibonacci level next. On the upside, break of 0.7052 minor resistance will turn intraday bias neutral again first. But risk will stay on the downside 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.

Daily Pivots: (S1) 0.6905; (P) 0.6946; (R1) 0.6980; More…

AUD/USD’s break of 0.7027 minor resistance indicates temporary bottoming at 0.6910. Intraday bias is turned neutral for some consolidations first. But still, near term outlook will remain bearish as long as 0.7265 resistance holds. Break of 0.6910 will extend larger decline from 0.8006 to 0.6756 medium term fibonacci level next.

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.

Daily Pivots: (S1) 0.6905; (P) 0.6946; (R1) 0.6980; More…

Intraday bias in AUD/USD stays mildly on the downside for the moment. Current fall is part of the corrective pattern from 0.8006. Deeper decline would be seen to for 0.6756 medium term fibonacci level next. On the upside, above 0.7027 minor resistance will turn intraday bias neutral first. But near term outlook will stay 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.

Daily Pivots: (S1) 0.6905; (P) 0.6988; (R1) 0.7032; More…

AUD/USD’s break of 0.6966 low confirms resumption of whole corrective pattern from 0.8006. Intraday bias stays on the downside for 0.6756 medium term fibonacci level next. On the upside, above 0.7027 minor resistance will turn intraday bias neutral first. But near term outlook will stay 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.

Daily Pivots: (S1) 0.7043; (P) 0.7090; (R1) 0.7120; More…

AUD/USD’s fall from 0.7660 resumed by breaking through 0.7029 temporary low. Intraday bias is back on the downside. As noted before, such decline is seen as the third third leg of the corrective pattern from 0.8006. Firm break of 0.6955 low will confirm this bearish case and target 0.6756 medium term fibonacci level next. For now, outlook will stay bearish as long as 0.7265 resistance holds, in case of recovery.

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.

AUD/USD edged lower to 0.7029 last week, rebounded from there to 0.7265, then reversed lower. Initial bias remains neutral this week first. Outlook is unchanged that fall from 0.7660 is the third leg of the corrective pattern from 0.8006. On the downside, 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.

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.

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). However, rejection by 0.8135 will keep long term outlook neutral at best.

Daily Pivots: (S1) 0.7039; (P) 0.7152; (R1) 0.7227; More…

AUD/USD’s rebound lost steam after hitting 0.7265 and retreats sharply. Intraday bias is turned neutral at this point. Outlook is unchanged that fall from 0.7660 is the third leg of the corrective pattern from 0.8006. On the downside, 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.

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) 0.7141; (P) 0.7204; (R1) 0.7318; More…

Break of 0.7228 minor resistance suggests short term bottoming at 0.7029. Intraday bias in AUD/USD is mildly on the upside for stronger rebound to 55 day EMA (now at 0.7294) and possibly above. But outlook is unchanged that fall from 0.7660 is the third leg of the corrective pattern from 0.8006. On the downside, 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.

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) 0.7045; (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) 0.7027; (P) 0.7055; (R1) 0.7079; More…

Intraday bias in AUD/USD is turned neutral first with current recovery. But further decline is 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) 0.7021; (P) 0.7100; (R1) 0.7142; More…

AUD/USD’s decline resumed after brief recovery and intraday bias is back on the downside. Current development suggests that larger correction from 0.8006 is in its third leg. Deeper fall should be seen to retest 0.6966 low first. Break will target 0.6756 medium term fibonacci level next. On the upside, above 0.7179 minor resistance will turn intraday bias neutral again.

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.

AUD/USD dropped further to as low as 0.7054 last week but formed a temporary low there and recovery. Initial bias is neutral this week first. But outlook will stay bearish as long as 0.7228 resistance holds. Current development suggests that larger correction from 0.8006 is in its third leg. Below 0.7054 will target a retest on 0.6966 low first.

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.

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). However, rejection by 0.8135 will keep long term outlook neutral at best.

Daily Pivots: (S1) 0.7049; (P) 0.7105; (R1) 0.7156; More…

Intraday bias in AUD/USD is turned neutral again with loss of downside momentum. Still, further decline is expected as long as 0.7342 support turned resistance holds. Current development argues that larger correction from 0.8006 is in its third leg. Below 0.7054 will target a retest on 0.6966 low first.

In the bigger picture, price actions from 0.8006 are seen as a corrective pattern to rise from 0.5506 (2020 low). Break of 0.7164 will suggest that such correction is still in progress, with fall from 0.7660 as the third leg. Next target will be 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) 0.7088; (P) 0.7140; (R1) 0.7178; More…

AUD/USD’s fall resumed after brief consolidation and intraday bias is back on the downside. Current development argues that larger correction from 0.8006 is in its third leg. Fall from 0.7660 should target 0.6966 low next. On the upside, above 0.7228 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another decline.

In the bigger picture, price actions from 0.8006 are seen as a corrective pattern to rise from 0.5506 (2020 low). Break of 0.7164 will suggest that such correction is still in progress, with fall from 0.7660 as the third leg. Next target will be 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) 0.7086; (P) 0.7157; (R1) 0.7196; More…

A temporary low is formed at 0.7116 in AUD/USD and intraday bias is turned neutral first. But near term outlook will remain cautiously bearish with 0.7342 support turned resistance intact. Current development argues that larger correction from 0.8006 is in its third leg. Below 0.7116 will target a retest on 0.6966 low first.

In the bigger picture, price actions from 0.8006 are seen as a corrective pattern to rise from 0.5506 (2020 low). Break of 0.7164 will suggest that such correction is still in progress, with fall from 0.7660 as the third leg. Next target will be 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) 0.7125; (P) 0.7191; (R1) 0.7247; More…

Intraday bias in AUD/USD remains on the downside at this point. Sustained break of 0.7164 support will confirm that whole rebound from 0.6966 has completed at 0.7660. More importantly, such development will suggest that larger correction from 0.8006 has already started the third leg. Deeper decline would be seen back to retest 0.6966 low next. On the upside, above 0.7250 minor resistance will turn intraday bias neutral first.

In the bigger picture, price actions from 0.8006 are seen as a corrective pattern to rise from 0.5506 (2020 low). Break of 0.7164 will suggest that such correction is still in progress, with fall from 0.7660 as the third leg. Next target will be 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) 0.7193; (P) 0.7286; (R1) 0.7338; More…

Intraday bias in AUD/USD remains on the downside with focus on 0.7164 support. Decisive break there will confirm that whole rebound from 0.6966 has completed at 0.7660. More importantly, such development will suggest that larger correction from 0.8006 has already started the third leg. Deeper decline would be seen back to retest 0.6966 low next. On the upside, break of 0.7342 support turned resistance is needed to indicate short term bottoming. Otherwise, further decline will remain in favor even in case of recovery.

In the bigger picture, price actions from 0.8006 are seen as a corrective pattern to rise from 0.5506 (2020 low). Break of 0.7164 will suggest that such correction is still in progress, with fall from 0.7660 as the third leg. Next target will be 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.

AUD/USD’s decline from 0.7660 extended lower last week, after brief recovery. Initial bias stays on the downside this week for 0.7164 support. Firm break there will pave the way back to 0.6966 low. On the upside, above 0.7342 minor resistance will turn intraday bias neutral first.

In the bigger picture, price actions from 0.8006 are seen as a corrective pattern to rise from 0.5506 (2020 low). Break of 0.7164 will suggest that such correction is still in progress, with fall from 0.7660 as the third leg. Next target will be 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.

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). However, rejection by 0.8135 will keep long term outlook neutral at best.

Daily Pivots: (S1) 0.7338; (P) 0.7398; (R1) 0.7431; More…

AUD/USD’s fall from 0.7660 resumed by breaking 0.7342 temporary low. Intraday bias is back on the downside for 0.7164 support next. On the upside, above 0.7457 minor resistance will flip bias back to the upside for retesting 0.7660 resistance 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.