Daily Pivots: (S1) 0.7180; (P) 0.7203; (R1) 0.7227; More…

Intraday bias in AUD/USD remains neutral at this point. 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. On the upside, above 0.7235 will extend the rebound. But upside should be limited by 0.7393 resistance to bring reversal.

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) 0.7408; (P) 0.7437; (R1) 0.7482; More…

AUD?USD is staying in range of 0.7309/7483 and intraday bias remains neutral. Consolidation from 0.7309 could extend further. And break of 0.7483 will bring stronger rebound. But in that case, upside should be limited 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) 0.6282; (P) 0.6317; (R1) 0.6356; More…

Intraday bias in AUD/USD stays neutral for the moment. Further rise is mildly in favor with 0.6213 support intact. On the upside, break of 0.6444 will extend the rebound from 0.5506 to 100% projection of 0.5506 to 0.6213 from 0.5979 at 0.6686, which is close to 0.6684 key resistance. On the downside, break of 0.6213 resistance turned support will argue that such rebound has completed. Intraday bias will be turned back to the downside for 0.5979 support for confirmation.

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, break of 0.6670 support turned resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish even in case of strong rebound.

Daily Pivots: (S1) 0.6840; (P) 0.6930; (R1) 0.7096; More…

Intraday bias in AUD/USD remains neutral as consolidation continues. Upside of recovery should be limited by 0.7071 resistance to bring decline resumption. On the downside, below 0.6928 minor support will turn bias to the downside for 0.6722 first. Decisive break there will extend the larger down trend to 100% projection of 0.8135 to 0.7020 from 0.7393 at 0.6278 next. Nevertheless, break of 0.6928 will delay the bearish case and bring stronger rebound first.

In the bigger picture, medium term fall from 0.8135 is still in progress. Such decline is seen as part of the long term down trend from 1.1079 (2011 high). Sustained break of 0.6826 (2016 low) will pave the way to next key level tat 0.6008 (2008 low). In any case, break of 0.7393 resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish even in case of strong rebound.

Daily Pivots: (S1) 0.7177; (P) 0.7211; (R1) 0.7266; More…

Intraday bias in AUD/USD remains neutral as consolidation form 0.7282 is extending. Further rise will remain in favor as long as 0.7034 support holds. Current development raised the chance that whole fall corrective fall from 0.8005 has completed at 0.6828. Above 0.7282 will extend the rebound to 0.7660 resistance for confirmation. However, break of 0.7034 will dampen this bullish view and bring retest of 0.6828 low instead.

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 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) 0.6696; (P) 0.6722; (R1) 0.6753; More…

Intraday bias in AUD/USD remains neutral as corrective pattern from 0.6563 is still extending. On the downside, break of 0.6619 will indicate that decline from 0.7156 is resuming through 0.6563 low. Nevertheless, sustained break of 0.6804 will bring stronger rally back to 61.8% retracement of 0.7156 to 0.6563 at 0.6929.

In the bigger picture, as long as 61.8% retracement of 0.6169 to 0.7156 at 0.6546 holds, the decline from 0.7156 is seen as a correction to rally from 0.6169 (2022 low) only. Another rise should still be seen through 0.7156 at a later stage. However, sustained break of 0.6546 will raise the chance of long term down trend resumption through 0.6169 low.

Daily Pivots: (S1) 0.6697; (P) 0.6740; (R1) 0.6803; More…

AUD/USD recovered after hitting 0.6677 and intraday bias is turned neutral for consolidations first. Upside of recovery should be limited below 0.6910 support turned resistance to bring fall resumption. On the downside, break of 0.6677 will resume larger down trend to 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) is 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) 0.7579; (P) 0.7663; (R1) 0.7709; More…

AUD/USD’s correction from 0.8006 extends lower today. Intraday bias in back on the downside for 100% projection of 0.8006 to 0.7620 from 0.7848 at 0.7462. We’ll look for strong support from there to bring rebound. However, note that AUD/USD has also completed a head and should top (ls: 0.7819; h: 0.8006; rs: 0.7848). Firm break of 0.7462 will argue that it’s correcting whole up trend from 0.5506. For now, risk will stay on the downside as long as 0.7848 resistance holds, in case of recovery.

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) 0.6515; (P) 0.6535; (R1) 0.6554; More…

Intraday bias in AUD/USD remains on the upside as rise from 0.6361 short term bottom is in progress. Fall from 0.6870 might have completed at 0.6361 already. Further rally would be seen to 0.6643 resistance next. On the downside, below 0.6516 minor support will turn intraday bias neutral first.

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 is still 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) 0.7466; (P) 0.7530; (R1) 0.7573; More…

Intraday bias in AUD/USD remains neutral and outlook is unchanged. Further rise is expected as long as 0.7455 support holds. As noted before, whole corrective decline from 0.8006 should have completed at 0.6966 already. Break of 0.7660 will resume the rise from 0.6966 to retest 0.8006 high. However, firm break of 0.7455 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) 0.7082; (P) 0.7106; (R1) 0.7147; More…

Intraday bias sin AUD/USD is turned neutral first with current recovery. On the upside, above 0.7167 will resume the rebound to 0.7313 resistance. Firm break there will be an indication of bullish reversal. On the downside, sustained trading below 0.6991 will extend the down trend from 0.8006. Next target is 100% projection of 0.7555 to 0.6992 from 0.7313 at 0.6750.

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.

Daily Pivots: (S1) 0.7391; (P) 0.7418; (R1) 0.7439; More…

Intraday bias in AUD/USD stays mildly on the upside at this point. Recovery from 0.7345 could extend higher. But upside should be limited below 0.7676 resistance to bring fall resumption. On the downside break of 0.7328 cluster support (61.8% retracement of 0.6826 to 0.8135 at 0.7326) will target 61.8% projection of 0.8135 to 0.7411 from 0.7676 at 0.7229 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) 0.6973; (P) 0.7000; (R1) 0.7015; More…

AUD/USD’s recovery was limited below 0.7069 resistance and reversed. But downside is contained above 0.6962 temporary low. Intraday bias remains neural and outlook stays bearish. On the downside, break of 0.6962 will resume the fall from 0.7295 to 100% projection of 0.7295 to 0.7003 from 0.7205 at 0.6913. Decisive break there will indicate further downside acceleration and pave the way to retest 0.6722 low. However, considering bullish convergence condition in 4 hour MACD, firm break of 0.7069 will indicate near term bottoming and turn bias back to the upside for 0.7205 resistance and above.

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) 0.6276; (P) 0.6338; (R1) 0.6371; More…

AUD/USD’s break of 0.6284 support indicates resumption of whole decline from 0.7156. Intraday bias is back on the downside. Next target is 100% projection of 0.7156 to 0.6457 from 0.6894 at 0.6195, which is close to 0.6169 medium term support. For now, outlook will stay bearish as long as 0.6398 resistance holds, in case of recovery.

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.

Daily Pivots: (S1) 0.6653; (P) 0.6688; (R1) 0.6728; More…

AUD/USD’s recovery from 0.6619 continues today but stays well below 0.6792 resistance. Intraday bias remains neutral for the moment. Risk stays on the downside with 0.6792 resistance intact. Below 0.6619 will bring retest of 0.6563 low first. sustained break of 0.6563 support will resume the decline from 0.7156 to 61.8% projection of 0.7156 to 0.6563 from 0.6792 at 0.6426.

In the bigger picture, as long as 61.8% retracement of 0.6169 to 0.7156 at 0.6546 holds, the decline from 0.7156 is seen as a correction to rally from 0.6169 (2022 low) only. Another rise should still be seen through 0.7156 at a later stage. However, sustained break of 0.6546 will raise the chance of long term down trend resumption through 0.6169 low.

Daily Pivots: (S1) 0.6663; (P) 0.6692; (R1) 0.6716; More…

AUD/USD’s fall from 0.6898 resumed after brief recovery and intraday bias is back on the downside. Sustained break of 61.8% retracement of 0.6457 to 0.6898 at 0.6625 will path the way back to 0.6457 key support level. On the upside, above 0.6719 resistance will turn intraday bias neutral again first.

In the bigger picture, outlook is mixed up by the deeper the expected pull back from 0.6898. Still, price actions from 0.7156 are seen as a correction to rebound from 0.6169. Break of 0.6457 will resume the fall towards 0.6169 low. On the upside, though, break of 0.6898 resistance will argue that rise from 0.6169 is ready to resume through 0.7156.

Daily Pivots: (S1) 0.7142; (P) 0.7203; (R1) 0.7236; More…

Intraday bias in AUD/USD remains mildly on the downside as fall from 0.7477 is in progress for retesting 0.7105 low. Firm break there will resume whole decline from 0.8006 for 0.6991 support next. On the upside, break of 0.7315 resistance will turn bias back to the upside for 0.7477 resistance instead.

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) 0.7625; (P) 0.7678; (R1) 0.7733; More…

AUD/USD’s is staying in the correction from 0.8006 and intraday bias remains mildly on the downside. Further decline could be seen but overall outlook will stay bullish as long as 0.7563 support holds. On the upside, break of 0.7837 minor resistance will bring retest of 0.8006 high. However, 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) 0.7094; (P) 0.7112; (R1) 0.7138; More…

With 0.7131 minor resistance intact, intraday bias stays mildly on the downside. Current fall is part of the down trend from 0.8135. Next target is 161.8% projection of 0.7452 to 0.7201 from 0.7361 at 0.6955. Break will target key support level at 0.6826. On the upside, above 0.7131 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another decline.

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). Current downside momentum as seen in daily and weekly MACD support this bearish case. Firm break of 0.6826 will target 0.6008 key support next (2008 low). On the upside, break of 0.7361 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) 0.7163; (P) 0.7173; (R1) 0.7183; More…

Today’s sharp retreat suggests temporary topping at 0.7192 in AUD/USD. Intraday bias is turned neutral first. Further rise remains in favor with 0.7115 minor support intact. On the upside, above 0.7192 will target 0.7206 resistance first. Break will likely resume larger rebound from 0.6722 through 0.7295 resistance. On the downside, though, break of 0.7115 minor support will turn intraday bias back to the downside for 0.7003/7052 support zone instead.

In the bigger picture, break of medium term channel resistance is the first sign of bullish reversal. But there is no confirmation yet. As long as 0.7393 resistance holds, larger fall from 0.8135 is still expected to resume later. Such decline 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.