AUD/USD edged lower to 0.6776 last week but turned sideway since then. Initial bias remains neutral this week first. As a short term top was formed, further decline will remain in favor as long as 0.7064 holds. On the downside, break of 0.6776 will target 38.2% retracement of 0.5506 to 0.7064 at 0.6469.

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 0.6721). Sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

In the longer term picture, there is no change in the view that down trend from 1.1079 (2011 high) is still in progress. Such down trend could extend through 0.5506 low after completing the corrective rise from there. However, sustained break of 55 month EMA (now at 0.7340) will raise the chance of long term reversal and turn focus back to 0.8135 key resistance.

Daily Pivots: (S1) 0.6825; (P) 0.6864; (R1) 0.6892; More…

AUD/USD is staying in range below 0.7064 short term to and intraday bias remains neutral. On the upside, firm break of 0.7031/64 is needed to confirm rise resumption. Otherwise, risk will stay mildly on the downside in case of recovery. On the downside, break of 0.6676 will extend the fall form 0.7064 to 38.2% retracement of 0.5506 to 0.7064 at 0.6469.

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 0.6717). Sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

Daily Pivots: (S1) 0.6850; (P) 0.6886; (R1) 0.6921; More…

Intraday bias in AUD/USD remains neutral as sideway trading continues. On the upside, firm break of 0.7031/64 is needed to confirm rise resumption. Otherwise, risk will stay mildly on the downside in case of recovery. On the downside, break of 0.6676 will extend the fall form 0.7064 to 38.2% retracement of 0.5506 to 0.7064 at 0.6469.

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 0.6717). Sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

Daily Pivots: (S1) 0.6824; (P) 0.6900; (R1) 0.6967; More…

Intraday bias in AUD/USD remains neutral for the moment. On the upside, firm break of 0.7031/64 is needed to confirm rise resumption. Otherwise, risk will stay mildly on the downside in case of recovery. On the downside, break of 0.6676 will extend the fall form 0.7064 to 38.2% retracement of 0.5506 to 0.7064 at 0.6469.

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 0.6717). Sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

Daily Pivots: (S1) 0.6823; (P) 0.6874; (R1) 0.6971; More…

AUD/USD’s rebound suggests that pull back from 0.7064 might have completed at 0.6776. Intraday bias is turned neutral first. On the upside, firm break of 0.7031/64 is needed to confirm rise resumption. Otherwise, risk will stay mildly on the downside in case of recovery. On the downside, break of 0.6676 will extend the fall form 0.7064 to 38.2% retracement of 0.5506 to 0.7064 at 0.6469.

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 0.6717). Sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

Daily Pivots: (S1) 0.6811; (P) 0.6862; (R1) 0.6923; More…

Intraday bias in AUD/USD remains on the downside at this point. Corrective fall from 0.7064 short term top is in progress. Deeper fall would be seen to 38.2% retracement of 0.5506 to 0.7064 at 0.6469. On the upside, firm break of 0.7031/64 is needed to confirm rise resumption. Otherwise, risk will now stay mildly on the downside in case of recovery.

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 0.6717). Sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

AUD/USD edged higher to 0.7064 last week but failed to sustain above 0.7031 key resistance and retreated. A short term top should be formed. Further decline is in favor this week for 38.2% retracement of 0.5506 to 0.7064 at 0.6469. On the upside, firm break of 0.7031/64 is needed to confirm rise resumption. Otherwise, risk will now stay mildly on the downside in case of recovery.

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 0.6717). Sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

In the longer term picture, there is no change in the view that down trend from 1.1079 (2011 high) is still in progress. Such down trend could extend through 0.5506 low after completing the corrective rise from there. However, sustained break of 55 month EMA (now at 0.7340) will raise the chance of long term reversal and turn focus back to 0.8135 key resistance.

Daily Pivots: (S1) 0.6795; (P) 0.6899; (R1) 0.6959; More…

AUD/USD’s break of 0.6898 minor support suggests short term topping at 0.7064, after failing to sustain above 0.7031 resistance. Intraday bias is turned back to the downside. Deeper pull back would be seen to 38.2% retracement of 0.5506 to 0.7064 at 0.6469. On the upside, firm break of 0.7031/64 is needed to confirm rise resumption. Otherwise, risk will now stay mildly on the downside in case of recovery.

In the bigger picture, the firm break of 0.6826 (2016 low) now suggests that 0.5506 is a medium term bottom. Rebound from there is likely correcting whole long term down trend form 1.1079 (2011 high). Further rally would be seen to 55 month EMA (now at 0.7326). This will remain the preferred case as long as it stays above 55 week EMA (now at 0.6721).

Daily Pivots: (S1) 0.6933; (P) 0.6998; (R1) 0.7064; More…

AUD/USD edged higher to 0.7064 but failed to sustain above 0.7031 resistance again and retreated. Intraday bias remains neutral first. On the downside, firm break of 0.6898 minor support should indicate short term topping and rejection by 0.7031. Intraday bias will be turned back to the downside, for correction back to 0.6569 resistance turned support. On the upside, however, sustained break of 0.7031 will extend the rise from 0.5506.

In the bigger picture, the firm break of 0.6826 (2016 low) now suggests that 0.5506 is a medium term bottom. Rebound from there is likely correcting whole long term down trend form 1.1079 (2011 high). Further rally would be seen to 55 month EMA (now at 0.7326). This will remain the preferred case as long as it stays above 55 week EMA (now at 0.6721).

Daily Pivots: (S1) 0.6894; (P) 0.6968; (R1) 0.7036; More…

Intraday bias in AUD/USD remains neutral for the moment. On the downside, break of 0.6856 support should indicate short term topping. Intraday bias will be turned back to the downside for 0.6569 resistance turned support. Nevertheless, decisive break of 0.7031 will extend the rise from 0.5506.

In the bigger picture, the firm break of 0.6826 (2016 low) now suggests that 0.5506 is a medium term bottom. Rebound from there is likely correcting whole long term down trend form 1.1079 (2011 high). Further rally would be seen to 55 month EMA (now at 0.7326). This will remain the preferred case as long as it stays above 55 week EMA (now at 0.6721).

Daily Pivots: (S1) 0.6978; (P) 0.7003; (R1) 0.7045; More…

AUD/USD edged higher to 0.7042 but failed to sustain above 0.7031 resistance and retreat. Intraday bias remains neutral first. On the downside, break of 0.6856 support should indicate short term topping. Intraday bias will be turned back to the downside for 0.6569 resistance turned support. Nevertheless, decisive break of 0.7031 will extend the rise from 0.5506.

In the bigger picture, the firm break of 0.6826 (2016 low) now suggests that 0.5506 is a medium term bottom. Rebound from there is likely correcting whole long term down trend form 1.1079 (2011 high). Further rally would be seen to 55 month EMA (now at 0.7326). This will remain the preferred case as long as it stays above 55 week EMA (now at 0.6721).

Daily Pivots: (S1) 0.6927; (P) 0.6970; (R1) 0.7009; More…

Intraday bias in AUD/USD remains neutral first with focus on 0.7031 key resistance. On the downside, break of 0.6856 minor support will suggest short term topping, after rejection by 0.79031. Intraday bias will be turned back to the downside for pull back towards 0.6569 resistance turned support. Nevertheless, decisive break of 0.7031 will extend the rise from 0.5506.

In the bigger picture, the firm break of 0.6826 (2016 low) now suggests that 0.5506 is a medium term bottom. Rebound from there is likely correcting whole long term down trend form 1.1079 (2011 high). Further rally would be seen to 55 month EMA (now at 0.7326). This will remain the preferred case as long as it stays above 55 week EMA (now at 0.6721).

AUD/USD continued last week but it started to lose momentum approaching 0.7031 resistance. Initial bias is neutral this week for some consolidations first. On the downside, break of 0.6856 support will suggest short term topping. Intraday bias will be turned back to the downside for pull back towards 0.6569 resistance turned support.

In the bigger picture, the firm break of 0.6826 (2016 low) now suggests that 0.5506 is a medium term bottom. Rebound from there is likely 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 0.6710).

In the longer term picture, there is no change in the view that down trend from 1.1079 (2011 high) is still in progress. Such down trend could extend through 0.5506 low after completing the corrective rise from there. However, sustained break of 55 month EMA (now at 0.7340) will raise the chance of long term reversal and turn focus back to 0.8135 key resistance.

Daily Pivots: (S1) 0.6888; (P) 0.6938; (R1) 0.6993; More…

Further rise is mildly in favor in AUD/USD with focus on 0.7031 resistance. Decisive break there will carry larger bullish implications. On the downside, break of 0.6856 minor support suggest short term topping. Intraday bias will be turned back to the downside for 4 hour 55 EMA (now at 0.6766) and below.

In the bigger picture, the firm break of 0.6826 (2016 low) now suggests that 0.5506 is a medium term bottom. Rebound from there is likely correcting whole long term down trend form 1.1079 (2011 high). Further rally would be seen to 55 month EMA (now at 0.7365). This will remain the preferred case as long as it stays above 55 week EMA (now at 0.6710).

Daily Pivots: (S1) 0.6858; (P) 0.6921; (R1) 0.6984; More…

A temporary top is formed at 0.6983 in AUD/USD and intraday bias is turned neutral first. As long as 0.6569 resistance turned support holds, further rally will remain mildly in favor. On the upside, decisive break of 0.7031 will carry larger bullish implications. Nevertheless, break of 0.6569 will suggest near term reversal and turn outlook bearish for 0.6402 support and below.

In the bigger picture, the firm break of 0.6826 (2016 low) now suggests that 0.5506 is a medium term bottom. Rebound from there is likely correcting whole long term down trend form 1.1079 (2011 high). Further rally would be seen to 55 month EMA (now at 0.7365). This will remain the preferred case as long as it stays above 55 week EMA (now at 0.6710).

Daily Pivots: (S1) 0.6816; (P) 0.6857; (R1) 0.6939; More…

AUD/USD’s rally accelerates to as high as 0.6983 so far. There is no sign of topping yet and intraday bias stays on the upside for 0.7031 resistance. On the downside, break of 0.6847 minor support will turn intraday bias neutral first. But near term outlook will stays bullish as long as 0.6569 resistance turned support holds, in case of retreat.

In the bigger picture, the firm break of 0.6826 (2016 low) now suggests that 0.5506 is a medium term bottom. Rebound from there is likely corrective whole long term down trend form 1.1079 (2011 high). Further rally would be seen to 55 month EMA (now at 0.7365). This will remain the preferred case as long as it stays above 55 week EMA (now at 0.6710).

Daily Pivots: (S1) 0.6696; (P) 0.6749; (R1) 0.6851; More…

Intraday bias in AUD/USD remains on the upside at this point. Decisive break of 0.6826 will carry larger bullish implication. Rise from 0.5506 should target 0.7031 resistance next. On the downside, though, break of 0.6567 support will indicate rejection by 0.6826. Intraday bias will be turned back to the downside for 0.6402 support instead.

In the bigger picture, while the rebound from 0.5506 is stronger than expected, we’re seeing it as corrective the fall from 0.8135 only (2018 high) to 0.5506. Strong resistance should be seen from 0.6826 (2016 low) to limit upside. However, sustained break of 0.6826 will argue that rise from 0.5506 is at least correcting the fall from 1.1079 (2011 high). Stronger rally would be seen to 55 month EMA (now at 0.7365).

Daily Pivots: (S1) 0.6626; (P) 0.6654; (R1) 0.6697; More…

AUD/USD’s rally from 0.5506 continues today and hits as high as 0.6742 so far. Intraday bias bias remains on the upside but we’d continue to look for topping signal. Bearish divergence condition in 4 hour MACD is a sign of loss of upside momentum. AUD/USD will also face 55 week EMA (now at 0.6702) and then 0.6826 (2016 low). On the downside, break of 0.6567 minor support will indicate short term topping and turn bias back to the downside. However, any upside re-acceleration could take the pair further to 0.7031 resistance next.

In the bigger picture, while the rebound from 0.5506 is stronger than expected, we’re seeing it as corrective the fall from 0.8135 only (2018 high) to 0.5506. Strong resistance should be seen from 0.6826 (2016 low) to limit upside. However, sustained break of 0.6826 will argue that rise from 0.5506 is at least correcting the fall from 1.1079 (2011 high). Stronger rally would be seen to 55 month EMA (now at 0.7365).

AUD/USD’s rise from 0.5506 extended higher last week. While further rally could be seen, we’d continue to look for topping signal on next rise. Bearish divergence condition in 4 hour MACD is a sign of loss of upside momentum. AUD/USD will also face 55 week EMA (now at 0.6702) and then 0.6826 (2016 low). On the downside, break of 0.6050 support will indicate short term topping and turn bias back to the downside.

In the bigger picture, while the rebound from 0.5506 is stronger than expected, we’re seeing it as corrective the fall from 0.8135 only (2018 high) to 0.5506. Strong resistance should be seen from 0.6826 (2016 low) to limit upside. However, sustained break of 0.6826 will argue that rise from 0.5506 is at least corrective the fall from 1.1079 (2011 high). Stronger rally would be seen to 55 month EMA (now at 0.7365).

In the longer term picture, down trend from 1.1079 (2011) is still in progress. As long as 0.8135 resistance holds, we’d still extend another fall to 0.4773 (2001 low). We’ll maintain this view until we see clear upside, medium term impulsive structure develops.

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.