Daily Pivots: (S1) 0.6972; (P) 0.6997; (R1) 0.7014; More…

Intraday bias in AUD/USD remains neutral for the moment. On the upside, break of 0.7031 will resume the rebound from 0.6670 and target 0.7082 key resistance next. However, break of 0.6938 will be the first sign of near term reversal. In this case, intraday bias will be turned back to the downside for 0.6838 support next.

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) 0.7096; (P) 0.7112; (R1) 0.7139; More…

Intraday bias in AUD/USD is turned neutral with current retreat. But further rise is expected as long as 0.7008 support holds. Above 0.7135 will resume the rise from 0.6680 towards 0.7282 high. However, break of 0.7008 minor support will turn bias back to the downside for 0.6868 support instead.

In the bigger picture, price actions from 0.8006 (2021 high) is seen more as a corrective pattern to rise from 0.5506 (2020 low). Or it could be a bearish impulsive move. In either case, outlook will remain bearish as long as 0.7282 resistance holds. Next target is 61.8% retracement of 0.5506 to 0.8006 at 0.6461.

Daily Pivots: (S1) 0.6712; (P) 0.6744; (R1) 0.6766; More…

Intraday bias in AUD/USD stays neutral at this point. On the downside, sustained break of 38.2% retracement of 0.6169 to 0.6892 at 0.6616 will indicate rejection by 0.66871 fibonacci level. Deeper fall should then be seen to 61.8% retracement at 0.6445. On the upside, break of 0.6892 will resume the rally from 0.6169.

In the bigger picture, it’s still unsure if price actions from 0.6169 medium term bottom are developing into a corrective pattern or trend reversal. Rejection by 38.2% retracement of 0.8006 to 0.6169 at 0.6871 will maintain medium term bearishness for another fall through 0.6169 at a later stage. However, firm break of 0.6871, and sustained trading above 55 week EMA (now at 0.6900) will raise the chance of the start of a bullish up trend.

Daily Pivots: (S1) 0.7234; (P) 0.7295; (R1) 0.7330; More…

AUD/USD’s fall from 0.7393 accelerates lower today and focus is now back on 0.7199 support. Firm break there will suggest that the corrective rebound from 0.7020 has completed earlier than expected. Deeper fall should then be seen back to retest 0.7020 low. On the upside, above 0.7300 minor resistance will turn bias back to the upside. In that case, corrective rise from 0.7020 would extend to 38.2% retracement of 0.8135 to 0.7020 at 0.7446 before completion.

In the bigger picture, a medium term bottom is in place at 0.7020 ahead of 0.6826 key support (2016 low). Stronger rebound would be seen to corrective the whole fall from 0.8135 high. But we’d expect strong resistance from 0.7500 support turned resistance to limit upside. Medium term fall from 0.8135 should resume and extend to take on 0.6826 low at a later stage, after the correction from 0.7020 completes.

Daily Pivots: (S1) 0.6981; (P) 0.7053; (R1) 0.7095; More…

Intraday bias in AUD/USD is turned back to the downside with break of 0.7008 minor support. Deeper fall would be seen back to 0.6868 support first. Decisive break there will argue that whole rebound from 0.6680 is finished. ON the upside, break of 0.7135 will resume the rise from 0.6680 towards 0.7282 resistance.

In the bigger picture, price actions from 0.8006 (2021 high) is seen more as a corrective pattern to rise from 0.5506 (2020 low). Or it could be a bearish impulsive move. In either case, outlook will remain bearish as long as 0.7282 resistance holds. Next target is 61.8% retracement of 0.5506 to 0.8006 at 0.6461.

Daily Pivots: (S1) 0.6986; (P) 0.7006; (R1) 0.7040; More…

Intraday bias in AUD/USD remains on the upside for 0.7047 resistance. Break will resume the rebound from 0.6831 and target 61.8% retracement of 0.7295 to 0.6831 at 0.7118. Sustained trading above will pave the way to 0.7205 resistance next. On the downside, break of 0.6983 minor support will turn bias to the downside for 0.6910 support 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) 0.6551; (P) 0.6596; (R1) 0.6626; More…

AUD/USD’s recovery from 0.6563 continues today but stays below 0.6694 support turned resistance. Intraday bias remains neutral at this point. Focus is on whether 0.6546 fibonacci level would provide strong support to bring reversal. On the upside, break of 0.6694 support turned resistance will indicate short term bottoming, and turn bias back to the upside for rebound to 55 day EMA (now at 0.6803). 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) 0.7121; (P) 0.7149; (R1) 0.7185; More…

AUD/USD’s break of 0.7183 temporary top suggests rally resumption. Intraday bias is back on the upside for long term EMA level at 0.7311 next. On the downside, however, firm break of 0.7063 support will now suggests short term topping. Intraday bias will be turned back to the downside for 0.6776 support 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 0.6763). However, sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

Daily Pivots: (S1) 0.6595; (P) 0.6631; (R1) 0.6674; More…

Focus remains on 0.6670 key resistance in AUD/USD. Rejection from there, followed by 0.6505 support will indicate short term topping. Intraday bias will be turned back to the downside for 0.6402 support first. However, sustained break of 0.6670 will carry larger bullish implications and target 0.7031 resistance next.

In the bigger picture,the larger down trend from 1.1079 (2011 high) might still 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. Decisive break there will turn outlook bullish for 0.8135 (2017 high) next.

Daily Pivots: (S1) 0.6970; (P) 0.6996; (R1) 0.7029; More…

Intraday bias in AUD/USD is turned neutral first with today’s retreat. Further rise is in favor as long as 0.6962 minor support holds. Break of 0.7022 will extend the rebound from 0.6864 short term bottom. Break of 0.7069 resistance will target 0.7205 structural resistance next. On the downside, though, break of 0.6962 will indicate completion of the rebound and turn bias back to the downside for retesting 0.6864 low.

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) 0.6706; (P) 0.6721; (R1) 0.6732; More…

AUD/USD is still bounded in consolidation from 0.6677 and intraday bias remains neutral. 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. On the upside, above 0.6822 will bring stronger rebound instead.

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) should 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) 0.7061; (P) 0.7077; (R1) 0.7096; More…

AUD/USD’s recovery lost momentum after hitting 0.7091 and dropped notably. But it’s staying above 0.7003 temporary low. Intraday bias remains neutral first and more consolidation could still be seen. In case of another recovery, upside should be limited by 0.7121 resistance to bring fall resumption. On the downside, below 0.7003 will resume the fall from 0.7295 and target 61.8% retracement of 0.6722 to 0.7295 at 0.6941 and below.

In the bigger picture, as long as 0.7393 resistance holds, we’d treat fall from 0.8135 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) 0.7232; (P) 0.7261; (R1) 0.7283; More…

AUD/USD’s rally is still in progress and intraday bias remains on the upside. The break of 0.7313 resistance suggests that corrective decline from 0.8006 has completed at 0.6966, after hitting 0.6991 key support. Further rise should be seen to 0.7555 resistance for confirmation. On the downside, break of 0.7237 minor support will turn intraday bias neutral first. But further rally is still in favor as long as 0.7093 support holds.

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) 0.6736; (P) 0.6758; (R1) 0.6771; More…

With 0.6806 minor resistance intact, intraday bias stays on the downside for retesting 0.6677. Break will resume larger down trend. On the upside, above 0.6806 minor resistance will turn intraday bias neutral again. But risk will stay on the downside as long as 0.6894 resistance holds.

In the bigger picture, decline from 0.8135 (2018 high) is seen as resuming the long term down trend from 1.1079 (2011 high). Next target is 0.6008 (2008 low). 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) 0.6857; (P) 0.6873; (R1) 0.6891; More…

Intraday bias in AUD/USD remains neutral first, with focus on 0.6849 support. Outlook is unchanged that rebound from 0.6670 could have completed with three waves up to 0.7031. Break of 0.6849 will turn bias to the downside for 0.6754 support. Decisive break there will confirm this bearish case. On the upside, however, break of 0.6933 will turn focus back to 0.7031 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 0.7484).

Daily Pivots: (S1) 0.6898; (P) 0.6943; (R1) 0.7004; More…

Intraday bias in AUD/USD remains neutral for the moment. Correction from 0.7156 could still extend lower. But downside should be contained by 38.2% retracement of 0.6169 to 0.7156 at 0.6779 to bring rebound. On the upside, sustained break of 4 hour 55 EMA (now at 0.7000) will bring retest of 0.7156 high.

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) 0.6406; (P) 0.6432; (R1) 0.6446; More…

Intraday bias in AUD/USD is back on the downside a recent decline resumes through 0.6388 temporary low. Sustained break of 61.8% projection of 0.6870 to 0.6442 from 0.6643 at 0.6378 will extend the fall from 0.6870 to 100% projection at 0.6215. On the upside, break of 0.6455 resistance will turn intraday bias neutral again 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) 0.7726; (P) 0.7749; (R1) 0.7774; More…

AUD/USD surges to as high as 0.7861 so far, and the break of 0.7189 resistance confirms resumption of up trend from 0.5506. Intraday bias is back on the upside for 61.8% projection of 0.6991 to 0.7819 from 0.7563 at 0.8075. For now, outlook will remain bullish as long as 0.7730 support holds, even in case of retreat.

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) 0.7262; (P) 0.7305; (R1) 0.7335; More…

AUD/USD is still defending 0.7279 support and intraday bias remains neutral first. On the upside, break of 0.7409 will turn bias back to the upside for 0.7477 and above, to resume the rebound from 0.7105. ON the downside, however, firm break of 0.7279 will dampen our bullish view and turn bias back to the downside for retesting 0.7105 low 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 form 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) 0.6779; (P) 0.6810; (R1) 0.6839; More…

Intraday bias in AUD/USD stays on the downside as corrective fall from 0.7156 is in progress for 100% projection of 0.6854 to 0.7028 from 0.6854 at 0.6736, which is close to 0.6721 key structural support. Strong support is expected there to bring rebound. On the upside, above 0.6919 minor resistance will turn bias back to the upside for 0.7028 resistance.

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.