Daily Pivots: (S1) 0.7527; (P) 0.7555; (R1) 0.7588; More…

Intraday bias in AUD/USD remains neutral at this point. Above 0.7604 will extend the corrective rise from 0.7411. But we’d expect strong resistance from 38.2% retracement of 0.8135 to 0.7144 at 0.7688 to limit upside and bring decline resumption eventually. On the downside, below 0.7502 minor support will argue that the corrective rise is completed and bring retest of 0.7411 low. Firm break there will resume the fall from 0.8135 and target cluster support at 0.7328 (61.8% retracement of 0.6826 to 0.8135 at 0.7326).

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. 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) 0.6776; (P) 0.6822; (R1) 0.6848; More…

Intraday bias in AUD/USD remains on the downside at this point. Fall from 0.7082 is part o the decline from 0.7295. Next target is 0.6722 low. On the upside, above 0.6868 minor resistance will turn intraday bias neutral and bring consolidation again 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.

Daily Pivots: (S1) 0.7729; (P) 0.7770; (R1) 0.7839; More…

Focus is now on 0.7837 minor resistance with today’s strong rise in AUD/USD. Firm break there will suggest that the correction from 0.8006 has completed. Intraday bias will be turned back to the upside for retesting this high. On the downside, below 0.7620 will target 0.7563 support. 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) 0.7318; (P) 0.7340; (R1) 0.7360; More…

Intraday bias in AUD/USD remains neutral as it’s staying in range of 0.7237/7381. More consolidation is likely in near term. In case of stronger rise through 0.7381 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.

Daily Pivots: (S1) 0.6925; (P) 0.6947; (R1) 0.6970; More…

Intraday bias in AUD/USD remains neutral for the moment. Further rise cannot be ruled out. But we’d still expect correction from 0.7064 to extend with another falling leg. On the downside, below 0.6922 minor support will turn bias to the downside for 0.6776 support. Break there will target 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 0.7311). 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) 0.6921; (P) 0.6957; (R1) 0.6975; More…

Intraday bias in AUD/USD remains neutral at this point. With 0.6922 minor support intact, further rise cannot be ruled out. Further rise cannot be ruled out. But we’d still expect correction from 0.7064 to extend with another falling leg. On the downside, below 0.6922 minor support will turn bias to the downside for 0.6776 support. Break there will target 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 0.7311). 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) 0.7627; (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) 0.7386; (P) 0.7413; (R1) 0.7446; More…

Intraday bias in AUD/USD remains neutral at this point as the consolidation from 0.7309 is extending. More sideway trading could be seen. On the downside, break of 0.7309 and sustained trading below 0.7328 cluster support (61.8% retracement of 0.6826 to 0.8135 at 0.7326) will extend the fall from 0.8135 to 0.7158 support next. On the upside, above 0.7483 resistance will bring stronger rebound. But upside should be limited below 0.7676 resistance to bring larger fall resumption eventually.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move that should be completed at 0.8135. Deeper decline would be seen back to retest 0.6826 low. This will now remain the favored case as long as 0.7676 resistance holds.

Daily Pivots: (S1) 0.6901; (P) 0.6927; (R1) 0.6951; More…

No change in AUD/USD’s outlook as range trading continues, and intraday bias stays neutral. 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) 0.6919; (P) 0.6956; (R1) 0.6982; More…

A short term top should be formed at 0.7031 already. Intraday bias is mildly on the downside for 1.6838 support first. Break will target 0.6754 near term structural support next. On the upside, though , break of 0.7031 will resume the corrective rebound from 0.6670 to 0.7082 key 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) 0.6030; (P) 0.6168; (R1) 0.6258; More…

Further decline is expected in AUD/USD at this point. But there might be some support between 0.6008 key support and 100% projection of 0.7031 to 0.6433 from 0.6684 at 0.6086 to bring recovery. On the upside, above 0.6186 minor resistance will turn intraday bias neutral and bring consolidations first. But upside should be limited by 0.6433/6884 resistance zone to bring fall resumption.

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). Prior rejection by 55 week EMA affirms medium term bearishness. Next target is 0.6008 (2008 low). Break will target 0.5507 long term fibonacci projection level. Outlook will stay bearish as long as 0.7031 resistance holds, even in case of strong rebound.

Daily Pivots: (S1) 0.7149; (P) 0.7178; (R1) 0.7193; More…

Intraday bias in AUD/USD remains neutral for consolidation below 0.7235 temporary top. As long as 0.7116 minor support holds, further rally is in favor. On the upside, break of 0.7235 will target 0.7393 resistance. We’d expect strong resistance from there to limit upside. On the downside, break of 0.7116 minor support will suggest completion of rebound from 0.6722. Intraday bias will then be turned back to the downside for retesting this low.

In the bigger picture, the failure to sustain below 0.6826 (2016 low) suggests that the long term down trend is not ready to resume yet. But prior rejection by 55 week EMA indicates underlying medium term bearishness in the pair. Outlook will also stay bearish as long as 0.7393 resistance holds. On the downside, sustained break of 0.6826 will target 0.6008 (2008 low).

Daily Pivots: (S1) 0.7069; (P) 0.7088; (R1) 0.7121; More…

Intraday bias in AUD/USD remains neutral as consolidation from 0.7040 extends. While further rise cannot be ruled out, upside should be limited well below 0.7314 resistance bring fall resumption. On the downside, 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.

Daily Pivots: (S1) 0.6835; (P) 0.6898; (R1) 0.6934; More…

Intraday bias in AUD/USD remains neutral and outlook is unchanged. Correction pattern from 0.7064 is expected to have another decline before completion. On the downside, break of 0.6776 will target 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 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 0.6727). Sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

Daily Pivots: (S1) 0.7116; (P) 0.7136; (R1) 0.7173; More…

Intraday bias in AUD/USD remains neutral at this point. On the downside, break of 0.7089 minor support will bring retest of 0.6991 key support first. Sustained break there will carry larger bearish implication, and resume larger down trend from 0.8006. On the upside, above 0.7223 and sustained trading above 55 day EMA (now at 0.7236) will be the first sign of major bottoming and bring stronger rise to 0.7555 resistance.

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) 0.6906; (P) 0.6945; (R1) 0.6968; More…

AUD/USD’s strong break of 0.6956 minor support confirmed completion of corrective rebound from 0.6831 at 0.7047. Intraday bias is now on the downside for retesting 0.6831 low next. Break will resume the decline from 0.7295 to 0.6722 low. On the upside, though, break of 0.6994 minor resistance will turn focus back to 0.7047 resistance 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) 0.7373; (P) 0.7403; (R1) 0.7447; More…

AUD/USD continues to gyrate in range of 0.7309/7483 as consolidation extends. Intraday bias stays neutral and outlook is unchanged. Above 0.7483 will bring stronger rebound. But in that case, upside should below 0.7676 resistance to bring larger fall resumption. On the downside, break of 0.7309 and sustained trading below 0.7328 cluster support (61.8% retracement of 0.6826 to 0.8135 at 0.7326) will extend the fall from 0.8135 to 0.7158 support next.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move that should be completed at 0.8135. Deeper decline would be seen back to retest 0.6826 low. This will now remain the favored case as long as 0.7676 resistance holds.

Daily Pivots: (S1) 0.7229; (P) 0.7288; (R1) 0.7332; More…

Intraday bias in AUD/USD remains neutral at this point. Some more correction could be seen and deeper pull back cannot be ruled out. But further rally will remain in favor as long as 0.7093 support holds. As noted before, larger decline from 0.8006 might have completed at 0.6966 already. Above 0.7440 will resume the rise from 0.6966 for 0.7555 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 for another rise through 0.8006 at a later stage.

Daily Pivots: (S1) 0.7383; (P) 0.7405; (R1) 0.7438; More…

Intraday bias in AUD/USD remains on the upside for 0.7477 resistance. Sustained break there will argue that larger decline from 0.8006 has completed and turn near term outlook bullish. Next targets will be 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.

Daily Pivots: (S1) 0.6591; (P) 0.6626; (R1) 0.6646; More…

Intraday bias in AUD/USD is back on the downside with break of 0.6604 temporary lo, to 0.6563. Decisive break there will resume larger decline from 0.7156 to 61.8% projection of 0.7156 to 0.6563 from 0.6817 at 0.6451. On the upside, above 0.6674 minor resistance will delay the bearish case, and extend the corrective pattern from 0.6563 with another rising leg.

In the bigger picture, the failure to break through 55 W EMA (now at 0.6822) keeps medium term outlook bearish. Firm break of 61.8% retracement of 0.6169 to 0.7156 at 0.6546 will raise the chance of long term down trend resumption through 0.6169 low. This will now be the favored case as long as 0.6817 resistance holds.