AUD/USD’s up trend continued last week and reached as high as 0.7639, matched 0.7635 key long term fibonacci level. As a temporary top was formed, initial bias is neutral this week for some consolidations first. On the upside, sustained break of 0.7639 will carry larger bullish implications. Next target will be 61.8% projection of 0.5506 to 0.7413 from 0.6991 at 0.8170. Considering bearish divergence condition in 4 hour MACD, break of 0.7507 support will indicate short term topping, and turn bias to the downside for pull back.

In the bigger picture, the sustained trading above 55 week EMA (now at 0.6994) 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. In that case, next medium term target would be 61.8% retracement at 0.8950. Rejection by 0.7635 will retain long term bearishness instead.

In the longer term picture, bullish convergence condition in monthly MACD is a condition for long term bullish reversal. Focus will be on 38.2% retracement of 1.1079 (2011 high) to 0.5506 (2020 low) at 0.7635. Decisive break there should confirm reversal and target 61.8% retracement at 0.8950. Though, rejection by 0.7635 will retain long term bearishness for another low through 0.5506 at a later stage.

Daily Pivots: (S1) 0.7583; (P) 0.7612; (R1) 0.7656; More…

Intraday bias in AUD/USD is turned neutral first as it retreats after hitting 0.7635 key long term fibonacci level. On the upside, decisive break of 0.7635 will carry larger bullish implications. Next target will be 61.8% projection of 0.5506 to 0.7413 from 0.6991 at 0.8170. Nevertheless, break of 0.7507 support will indicate short term topping, on bearish divergence condition in 4 hour MACD. Intraday bias will be turned back to the downside for deeper pull back.

In the bigger picture, the sustained trading above 55 week EMA (now at 0.6994) 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. In that case, next medium term target would be 61.8% retracement at 0.8950. Rejection by 0.7635 will retain long term bearishness instead.

Daily Pivots: (S1) 0.7552; (P) 0.7565; (R1) 0.7592; More…

AUD/USD’s rally resumes by breaking 0.7578 temporary top. Intraday bias is back on the upside for 0.7635 key long term fibonacci level. Decisive break there will carry larger bullish implications. Next target will be 61.8% projection of 0.5506 to 0.7413 from 0.6991 at 0.8170. On the downside, break of 0.7507 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

In the bigger picture, the sustained trading above 55 week EMA (now at 0.6994) 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. In that case, next medium term target would be 61.8% retracement at 0.8950. Rejection by 0.7635 will retain long term bearishness instead.

Daily Pivots: (S1) 0.7519; (P) 0.7545; (R1) 0.7584; More…

Intraday bias in AUD/USD stays neutral at this point. Some consolidations could be seen but further rise is expected with 0.7485 minor support intact. Above 0.7578 will extend larger rally to 0.7635 key long term fibonacci level. However, considering bearish divergence condition in 4 hour MACD, break of 0.7485 would suggest short term topping. In this case, intraday bias will be turned to the downside for deeper pull back, to 55 day EMA (now at 0.7309).

In the bigger picture, the sustained trading above 55 week EMA (now at 0.6994) 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. In that case, next medium term target would be 61.8% retracement at 0.8950. Rejection by 0.7635 will retain long term bearishness instead.

Daily Pivots: (S1) 0.7513; (P) 0.7545; (R1) 0.7566; More…

Intraday bias in AUD/USD is turned neutral with today’s retreat. Some consolidations could be seen but further rise is expected with 0.7485 minor support intact. Above 0.7578 will extend larger rally to 0.7635 key long term fibonacci level. However, considering bearish divergence condition in 4 hour MACD, break of 0.7485 would suggest short term topping. In this case, intraday bias will be turned to the downside for deeper pull back, to 55 day EMA (now at 0.7298).

In the bigger picture, the sustained trading above 55 week EMA (now at 0.6994) 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. In that case, next medium term target would be 61.8% retracement at 0.8950. Rejection by 0.7635 will retain long term bearishness instead.

Daily Pivots: (S1) 0.7513; (P) 0.7542; (R1) 0.7565; More…

With 0.7485 minor support intact, intraday bias in AUD/USD remains mildly on the upside. Current rally should target 0.7635 key long term fibonacci level. Decisive break there will carry larger bullish implication. Next target is 61.8% projection of 0.5506 to 0.7413 from 0.6991 at 0.8170. On the downside, break of 0.7485 minor support will turn intraday bias neutral and bring consolidations first.

In the bigger picture, the sustained trading above 55 week EMA (now at 0.6994) 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. In that case, next medium term target would be 61.8% retracement at 0.8950. Rejection by 0.7635 will retain long term bearishness instead.

AUD/USD’s rally accelerated to as high as 0.7571 last week and there is no clear sign of topping yet. Initial bias remains on the upside this week for 0.7635 key long term fibonacci level. Decisive break there will carry larger bullish implication. Next target is 61.8% projection of 0.5506 to 0.7413 from 0.6991 at 0.8170. On the downside, break of 0.7485 minor support will turn intraday bias neutral and bring consolidations first.

In the bigger picture, the sustained trading above 55 week EMA (now at 0.6994) 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. In that case, next medium term target would be 61.8% retracement at 0.8950. Rejection by 0.7635 will retain long term bearishness instead.

In the longer term picture, bullish convergence condition in monthly MACD is a condition for long term bullish reversal. Focus will be on 38.2% retracement of 1.1079 (2011 high) to 0.5506 (2020 low) at 0.7635. Decisive break there should confirm reversal and target 61.8% retracement at 0.8950. Though, rejection by 0.7635 will retain long term bearishness for another low through 0.5506 at a later stage.

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) 0.7402; (P) 0.7444; (R1) 0.7482; More…

Intraday bias in AUD/USD stays on the upside at this point. Current rally 0.5506 should target 0.7635 key long term fibonacci level. On the downside, however, break of 0.7351 will indicate short term topping and turn bias back to the downside for pull back.

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) 0.7395; (P) 0.7415; (R1) 0.7431; More…

Upside momentum in AUD/USD is bit unconvincing as seen in 4 hour MACD. But further rally is expected as long as 0.7372 minor support holds. Current rise from 0.5506 target 0.7635 key long term fibonacci level. On the downside, however, break of 0.7351 will indicate short term topping and turn bias back to the downside for pull back.

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) 0.7376; (P) 0.7415; (R1) 0.7458; More…

With 0.7351 minor support intact, further rise is expected in AUD/USD. Current rally from 0.5506 should target 0.7635 key long term fibonacci level. On the downside, however, break of 0.7351 will indicate short term topping and turn bias back to the downside for pull back.

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) 0.7411; (P) 0.7427; (R1) 0.7445; More…

Intraday bias in AUD/USD remains on the upside at this point. Current rise from 0.5506 should target 0.7635 key long term fibonacci level. On the downside, however, break of 0.7351 will indicate short term topping and turn bias back to the downside for pull back.

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.

AUD/USD’s break of 0.7413 high last week suggests resumption of whole rise form 0.5506. Further rise is expected this week as long as 0.7351 support holds. Next target is 0.7635 key long term fibonacci level. On the downside, however, break of 0.7351 will indicate short term topping and turn bias back to the downside for pull back.

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.

In the longer term picture, bullish convergence condition in monthly MACD is a condition for long term bullish reversal. Focus will be on 38.2% retracement of 1.1079 (2011 high) to 0.5506 (2020 low) at 0.7635. Decisive break there should confirm reversal and target 61.8% retracement at 0.8950. Though, rejection by 0.7635 will retain long term bearishness for another low through 0.5506 at a later stage.

Daily Pivots: (S1) 0.7410; (P) 0.7429; (R1) 0.7461; More…

Intraday bias in AUD/USD remains on the upside as rise form 0.5506 is extending. Further rise should be seen to 0.7635 long term fibonacci level. On the downside, below 0.7351 support will turn intraday bias neutral and bring consolidations first, before staging another rally.

In the bigger picture, the sustained trading above 55 week EMA (now at 0.6993) 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) 0.7371; (P) 0.7396; (R1) 0.7439; More…

AUD/USD’s break of 0.7413 suggests resumption of rise from 0.5506. Intraday bias is back on the upside. Next target is 0.7635 long term fibonacci level. On the downside, below 0.7339 minor support will turn intraday bias neutral and bring consolidations first.

In the bigger picture, the sustained trading above 55 week EMA (now at 0.6993) 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) 0.7352; (P) 0.7362; (R1) 0.7383; More…

Intraday bias in AUD/USD remains neutral first, with focus on 0.7413 resistance. Decisive break there will resume whole rebound from 0.5506 and target 0.7635 long term fibonacci level. On the downside, however, break of 0.7265 support will extend the consolidation from 0.7413 with another falling leg. Intraday bias will be turned back to the downside for 0.6991 support instead.

In the bigger picture, the sustained trading above 55 week EMA (now at 0.6993) 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) 0.7318; (P) 0.7363; (R1) 0.7386; More…

AUD/USD retreats ahead of 0.7413 high and intraday bias is turned neutral first. On the upside, decisive break of 0.7413 will resume whole rebound from 0.5506 and target 0.7635 long term fibonacci level. On the downside, however, break of 0.7265 support will extend the consolidation from 0.7413 with another falling leg. Intraday bias will be turned back to the downside for 0.6991 support instead.

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) 0.7360; (P) 0.7379; (R1) 0.7406; More…

Intraday bias in AUD/USD remains on the upside for 0.7413 high. Decisive break there will resume whole rebound from 0.5506 and target 0.7635 long term fibonacci level. On the downside, however, break of 0.7265 support will extend the consolidation from 0.7413 with another falling leg. Intraday bias will be turned back to the downside for 0.6991 support instead.

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.

AUD/USD’s rebound from 0.6991 resumed last week and hit as high as 0.7399. Initial bias remains on the upside this week for retesting 0.7413 high first. Firm break there will resume whole rebound from 0.5506 and target 0.7635 long term fibonacci level. On the downside, however, break of 0.7265 support will extend the consolidation from 0.7413 with another falling leg. Intraday bias will be turned back to the downside for 0.6991 support instead.

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.

In the longer term picture, bullish convergence condition in monthly MACD is a condition for long term bullish reversal. Focus will be on 38.2% retracement of 1.1079 (2011 high) to 0.5506 (2020 low) at 0.7635. Decisive break there should confirm reversal and target 61.8% retracement at 0.8950. Though, rejection by 0.7635 will retain long term bearishness for another low through 0.5506 at a later stage.

Daily Pivots: (S1) 0.7350; (P) 0.7363; (R1) 0.7371; More….

Intraday bias in AUD/USD stays on the upside for retesting 0.7413 high. Decisive break there will resume whole rally from 0.5506. Next target is 0.7635 long term fibonacci level. On the downside, though, break of 0.7265 support will turn bias back to the downside, to extend the consolidation from 0.7413 with another falling leg.

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.