Daily Pivots: (S1) 0.7067; (P) 0.7106; (R1) 0.7175; More…

Intraday bias in AUD/USD is break on the upside with break of 0.7141 resistance. Current up trend from 0.6169 should now target 0.7304 fibonacci level. On the downside, break of 0.6982 support is needed to indicate short term topping. Otherwise, outlook will stay bullish in case of retreat.

In the bigger picture, corrective decline from 0.8006 (2021 high) should have completed with three waves down to 0.6169 (2022 low). Further rally should be seen to 61.8% retracement of 0.8006 to 0.6169 at 0.7304. Sustained break there will pave the way to retest 0.8006. This will now remain the favored case as long as 0.6721 support holds.

Daily Pivots: (S1) 0.6569; (P) 0.6640; (R1) 0.6691; More…

Intraday bias in AUD/USD remains neutral for the moment as range trading continues above 0.6563. Focus stays on whether 0.6546 fibonacci level would provide strong support to bring reversal. On the upside, firm break of 0.6715 resistance will indicate short term bottoming, and turn bias back to the upside for rebound to 55 day EMA (now at 0.6787) and above. However, sustained break of 0.6546 will carry larger bearish implication and target 0.6169 low.

In the bigger picture, rise from 0.6169 (2022 low) has completed at 0.7156, after rejection by 55 month EMA (now at 0.7158). Deeper decline would then be see back to 61.8% retracement of 0.6169 to 0.7156 at 0.6546, even as a corrective fall. Sustained break there will raise the chance of long term down trend resumption through 0.6169 low.

Daily Pivots: (S1) 0.6468; (P) 0.6503; (R1) 0.6526; More….

Intraday bias in back on the downside with breach of 0.6484 support. Retest of 0.6442 should be seen next. Firm break there will resume whole decline from 0.6870 and target 61.8% projection of 0.6870 to 0.6442 from 0.6666 at 0.6401. On the upside, above 0.6538 minor resistance will turn intraday bias neutral again.

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 might still be 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) 0.6530; (P) 0.6551; (R1) 0.6588; More…

Intraday bias in AUD/USD remains neutral first. On the upside, break of 0.6585 resistance will resume the rebound from 0.6361. That would also affirm the case that fall from 0.6870 has completed. Further rally would be seen to 0.6643 resistance next. Nevertheless, break of 0.6464 will bring deeper fall back to retest 0.6361 low.

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) 0.6777; (P) 0.6790; (R1) 0.6799; More…

Intraday bias in AUD/USD remains neutral as consolidation from 0.6769 temporary low is extending. Upside should be limited by 0.6841 resistance to bring fall resumption. As noted before, corrective rise from 0.6670 should have completed at 0.6929. Break of 0.6769 will extend the fall from 0.6929 to retest 0.6670 low. However, break of 0.6841 will turn bias back to the upside for 0.6929 resistance 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 0.7529).

Daily Pivots: (S1) 0.6727; (P) 0.6741; (R1) 0.6762; More...

Intraday bias in AUD/USD remains on the upside for the moment. Current rally should target 61.8% projection of 0.6361 to 0.6713 from 0.6619 at 0.6837. On the downside, below 0.6699 minor support will turn intraday bias neutral first. But, near term outlook will stay bullish as long as 0.6619 support holds, in case of retreat.

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 could have completed at 0.6269 already. Rise from there is seen as the third leg which is now trying to resume through 0.6870 resistance.

Daily Pivots: (S1) 0.6583; (P) 0.6603; (R1) 0.6639; More…

Intraday bias in AUD/USD remains neutral for the moment. Further rise is in favor as long as 55 4H EMA (now at 0.6570) holds. Above 0.6645 will resume the rebound from 0.6361. On the downside, however, firm break of 55 4H EMA will bring deeper fall back to 0.6464 support instead.

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 could still be 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) 0.6747; (P) 0.6791; (R1) 0.6840; More…

AUD/USD’s rally is resuming and intraday bias is back on the upside for 0.6871 fibonacci level. For now, outlook will remain bullish as long as 0.6641 support holds, in case of retreat. However, break of 0.6641 will indicate rejection by 0.6871 and turn bias back to the downside instead.

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 0.6922) will raise the chance of the start of a bullish up trend. However, rejection by 0.6781 or 55 week EMA, followed by 0.6521 resistance turned support and retain medium term bearishness.

AUD/USD’s corrective move from 0.7711 continued last week and outlook is unchanged. Initial bias remains neutral this week first. With 0.7534 support intact, another rise is in favor. Above 0.7643 minor resistance will bring retest of 0.7711. Break will extend the rally from 0.7328 to 0.7748 resistance and above. At this point, there is no clear sign of range breakout yet. Hence, we’d be cautious on topping again as it approaches medium term fibonacci level at 0.7849. On the downside, break of 0.7534 will indicate near term reversal and turn bias 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 0.8082) and above.

In the longer term picture, while the down trend from 1.1079 might extend lower, we’re not anticipating a break of 0.6008 (2008 low) yet. We’ll look for bottoming above there to reverse the medium term 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.

AUD/USD edged higher to 0.8006 last week but dropped sharply from there. With a short term top in place, initial bias is mildly on the downside this week for deeper pull back. But outlook will remain bullish as long as 0.7563 support holds. On the upside, above 0.7844 minor resistance will turn bias to the upside for retesting 0.8006. Break till extend larger up trend from 0.5506. However, decisive break of 0.7563 will bring deeper correction.

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.

In the longer term picture, 0.5506 is a long term bottom, on bullish convergence condition in monthly MACD. Focus is now back on 0.8135 structural resistance. Decisive break there will raise the chance that rise from 0.5506 is an impulsive up trend. Next target should be 61.8% retracement at 0.8950 and above. Though, rejection by 0.8135 will keep the case of medium to long term sideway consolidation open.

Daily Pivots: (S1) 0.7775; (P) 0.7808; (R1) 0.7861; More…

At this point, AUD/USD is staying in range above 0.7712 temporary low. Intraday bias remains neutral first. Near term outlook will remains mildly bearish as long as 0.7892 minor resistance holds. But still it’s limited below 0.7892 resistance. Such rebound could still be a corrective move only. Intraday bias stays neutral first. On the downside, break of 0.7712 will extend the fall from 0.8135 towards 0.7500 key support level. However, break of 0.7892 will suggest that the pull back from 0.8135 is already completed. In such case, intraday bias will be turned back to the upside for 0.7988 and then 0.8135 again.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. It might still extend higher but 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. On the downside, break of 0.7500 support will now be an important signal that such corrective rebound is completed.

Daily Pivots: (S1) 0.7033; (P) 0.7079; (R1) 0.7165; More…

Intraday bias in AUD/USD remains on the upside as rebound from 0.6722 short term bottom is extending. But upside should be limited below 0.7393 resistance. On the downside, break of 0.7025 minor support will turn bias back to the downside for retesting 0.6722 low. Overall, larger down trend from 0.8135 is expected to resume later after consolidation completes.

In the bigger picture, the failure to sustain below 0.6826 (2016 low) suggests that the long term down trend is now 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) 0.6557; (P) 0.6580; (R1) 0.6602; More…

Intraday bias in AUD/USD remains neutral at this point. Further rise is in favor as long as 55 4H EMA (now at 0.6562) holds. Above 0.6645 will resume the rebound from 0.6361. On the downside, however, firm break of 55 4H EMA will bring deeper fall back to 0.6464 support instead.

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 could still be 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) 0.7725; (P) 0.7744; (R1) 0.7757; More…

Intraday bias in AUD/USD remains neutral for the moment. On the upside, break of 0.7772 resistance will suggest that pull back from 0.7890 has completed. Intraday bias will be turned back to the upside for 0.7890 resistance next. On the downside, though, break of 0.7664 will resume the fall from 0.7890 to 0.7530 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) 0.7145; (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) 0.7064; (P) 0.7100; (R1) 0.7154; More…

Stronger than expected rebound in AUD/USD and break of 0.7114 minor resistance mixed up the near term outlook. On the upside, break of 0.7243 resistance will suggests that the correction from 0.7413 has completed and bring retest of this high. On the downside, through, break of 0.7005 will resume the correction to 38.2% retracement of 0.5506 to 0.7413 at 0.6685.

In the bigger picture, while rebound from 0.5506 was strong, there is not enough evidence to confirm bullish trend reversal yet. That is, it could be just a correction inside the long term down trend. Sustained trading back below 55 week EMA (now at 0.6916) will favor the bearish case and argue that the rebound has completed. Focus will be turned back to 0.5506 low. On the upside, break of 0.7413 will extend the rise from 0.5506 to 38.2% retracement of 1.1079 (2011 high) to 0.5506 (2020 low) at 0.7635.

Daily Pivots: (S1) 0.6772; (P) 0.6783; (R1) 0.6799; More…

With 0.6803 minor resistance intact, intraday bias in AUD/USD stays mildly on the downside. As noted before, corrective rebound from 0.6670 should have completed at 0.6929. Fall from there is now in progress for retesting 0.6670 low first. On the upside, above will turn intraday bias neutral and bring recovery. But upside should be limited well below 0.6929 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 0.7529).

Daily Pivots: (S1) 0.6445; (P) 0.6503; (R1) 0.6549; More…

Intraday bias in AUD/USD remains neutral as range trading continues. On the upside, above 0.6569 will extend the rebound from 0.5506 and target 0.6670 key resistance. On the downside, break of 0.6372 support should confirm short term reversal and bring deeper fall to 38.2% retracement of 0.5506 to 0.6569 at 0.6163 first.

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, however, sustained break of 0.6607 will suggest medium term bottoming and turn focus to 0.7031 resistance next.

Daily Pivots: (S1) 0.7347; (P) 0.7389; (R1) 0.7461; More…

Outlook in AUD/USD is unchanged. Consolidation from 0.7309 is still in progress. 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.