Daily Pivots: (S1) 0.7105; (P) 0.7141; (R1) 0.7170; More…

AUD/USD’s break of 0.7116 minor support suggests that rebound from 0.6992 has completed at 0.7185. Intraday bias is back on the downside for retesting 0.6992 low. Sustained break of 0.6991 key medium term structural support will carry larger bearish implication and resume the fall from 0.8006. On the upside, though, above 0.7185 will resume the rebound from 0.6992 to EMA (now at 0.7259).

In the bigger picture, sustained break of 0.6991 structural support 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). For now, medium term outlook will stay bearish as long as 0.7555 resistance holds, in case of rebound.

Daily Pivots: (S1) 0.6784; (P) 0.6807; (R1) 0.6825; More…

Intraday bias in AUD/USD remains neutral as consolidation from 0.6769 temporary low is extending. Outlook is unchanged that rebound from 0.6670 should have completed at 0.6929. Upside of recovery should be limited by 0.6841 minor resistance to bring another decline. On the downside, break of 0.6769 will resume the fall to retest 0.6670 low. However, break of 0.6841 will turn bias back to the upside for 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) 0.6509; (P) 0.6531; (R1) 0.6560; More…

Intraday bias in AUD/USD stays mildly on the downside at this point. Decisive break of 0.6480 support will argue that is ready to resume through 0.6442. Next target will be 61.8% projection of 0.6870 to 0.6442 from 0.6643 at 0.6378. For now, risk will stay mildly on the downside as long as 0.6643 resistance holds, in case of recovery.

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) 0.6966; (P) 0.6986; (R1) 0.6999; More…

Intraday bias in AUD/USD remains mildly on the downside at this point. Rebound from 0.6831 should have completed with three waves up to 0.7082. Break of 0.6910 support will confirm and pave the way back to retest 0.6831 support next. Such development will also argue that fall from 0.7295 is in progress for 0.6722 low. On the upside, above 0.7008 minor resistance will turn intraday bias neutral first.

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) 0.6973; (P) 0.7005; (R1) 0.7040; More…

Intraday bias in AUD/USD remains neutral and outlook is unchanged. We’re seeing price actions from 0.7064 as a consolidation pattern. Strong resistance should be seen from there to limit upside. Break of 0.6922 support will turn bias to the downside to start another falling leg inside the pattern. AUD/USD could target 0.6776 support and below. Nevertheless, sustained break of 0.7064 will resume whole rise from 0.5506 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 0.6750). Sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

Daily Pivots: (S1) 0.7211; (P) 0.7237; (R1) 0.7256; More…

AUD/USD is losing upside momentum but further rise is in favor as long as 0.7205 minor support holds. Sustained trading above 55 day EMA (now at 0.7236) will argue that fall from 0.8006 has completed at 0.6992, after defending 0.6991 support. Further rally would be seen to 0.7555 resistance for confirmation. On the downside, below 0.7205 minor support will mix up the near term outlook and turn intraday bias neutral first.

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) 0.7719; (P) 0.7739; (R1) 0.7754; More…

Intraday bias in AUD/USD stays neutral for the moment. We’re favoring the case that correction from 0.8006 has completed with three waves down to 0.7530. Above 0.7760 will extend the rebound to 0.7848 resistance first. Break there should confirm this bullish case and bring retest of 0.8006 high. This will remain the favored case as long as 0.7583 support holds.

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) 0.6531; (P) 0.6565; (R1) 0.6582; More…

AUD/USD recovered after hitting 0.6524 and intraday bias is turned neutral first. Some consolidations would be seen, but risk stays mildly on the downside as long as 0.6689 resistance holds. Break of 0.6524 will resume the fall from 0.6689 short term top to 55 D EMA (now at 0.6495).

In the bigger picture, there is no confirmation that down trend from 0.8006 (2021 high) has completed. price actions from 0.6169 (2022 low) could be just a medium term corrective pattern, with rise from 0.6269 as the third leg. For now, range trading should be seen between 0.6169 and 0.7156 (2023 high), until further developments.

Daily Pivots: (S1) 0.6551; (P) 0.6596; (R1) 0.6626; More…

AUD/USD failed to sustain above 0.6694 resistance so far and intraday bias remains neutral. . Focus is on whether 0.6546 fibonacci level would provide strong support to bring reversal. On the upside,firm 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 0.6798). 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) 0.7124; (P) 0.7140; (R1) 0.7153; More…

AUD/USD’s break of 0.7139 minor support suggests that corrective rise from 0.7003 could have completed with three waves up to 0.7205 already. Intraday bas is turned back to the downside for 0.7052 support first. Break there will likely resume whole fall from 0.7295 through 0.7003 support. On the upside, break of 0.7205 is needed to confirm resumption of the rebound from 0.7003. Otherwise, risk will stay mildly on the downside in case of recovery.

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.

Daily Pivots: (S1) 0.6645; (P) 0.6670; (R1) 0.6709; More…

Intraday bias in AUD/USD stays neutral as it’s still struggling to break through 0.6694 resistance decisively. Focus is on whether 0.6546 fibonacci level would provide strong support to bring reversal. On the upside,firm 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 0.6795). 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) 0.7387; (P) 0.7408; (R1) 0.7427; More…

AUD/USD weakens today but stays inside converging range from 0.7309. Intraday bias remains neutral with near term outlook bearish. 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. On the upside, above 0.7483 resistance will bring stronger rebound. But upside should be limited below 0.7676 resistance to bring larger fall resumption eventually.

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) 0.6905; (P) 0.6988; (R1) 0.7032; More…

AUD/USD’s break of 0.6966 low confirms resumption of whole corrective pattern from 0.8006. Intraday bias stays on the downside for 0.6756 medium term fibonacci level next. On the upside, above 0.7027 minor resistance will turn intraday bias neutral first. But near term outlook will stay bearish as long as 0.7265 resistance holds.

In the bigger picture, price actions from 0.8006 are seen as a corrective pattern to rise from 0.5506 (2020 low) with fall from 0.7660 as the third leg. Deeper fall should 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. However, sustained break of 0.6756/60 would argue that AUD/USD is indeed in a medium term down trend.

Daily Pivots: (S1) 0.6924; (P) 0.6972; (R1) 0.7002; More…

A temporary top was formed at 0.7018 with current retreat. Intraday bias in AUD/USD is turned neutral for consolidations first. But outlook will stay bullish as long as 0.6721 support holds. Break of 0.7018 will resume larger rise from 0.6169 to 61.8% projection of 0.6169 to 0.6892 from 0.6721 at 0.7168.

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) 0.6008; (P) 0.6064; (R1) 0.6120; More…

Intraday bias in AUD/USD stays neutral for the moment. Rebound from 0.5506 is seen as a corrective move. Upside should be limited by 61.8% retracement of 0.6684 to 0.5506 at 0.6234. On the downside, break of 0.5870 minor support will turn bias back to the downside for retesting 0.5506 low first. However, sustained break of 0.6234 will dampen immediate bearish case and turn focus back to 0.6684 resistance.

In the bigger picture, AUD/USD’s decline from 0.8135 (2018 high) is still in progress. It’s part of the larger down trend from 1.1079 (2011 high). 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) 0.7182; (P) 0.7208; (R1) 0.7243; More…

AUD/USD’s rise from 0.6966 resumes by breaking through 0.7247, and intraday bias is back on the upside for 0.7313 resistance. Decisive break there argue that correction from 0.8006 has completed at 0.6966, after hitting 0.6991 key support. Outlook will be turned bullish for 0.7555 resistance next. On the downside, break of 0.7163 minor support will mix up the outlook again and turn intraday bias neutral.

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) 0.7251; (P) 0.7296; (R1) 0.7324; More….

Intraday bias in AUD/USD is turned neutral with 4 hour MACD crossed below signal line. Further rise is still mildly in favor as long as 0.7221 support holds. Break of 0.7339 will target 0.7413 high first. Firm break there will resume larger rally from 0.5506. On the downside, however, break of 0.7221 will turn bias back to the downside to extend the consolidation pattern from 0.7413.

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 0.6969) 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) 0.6884; (P) 0.6925; (R1) 0.6946; More…

Intraday bias in AUD/USD stays neutral and outlook is unchanged. On the downside, firm break of 0.6828 support will resume larger fall from 0.8006. Next target is 0.6756/60 cluster support. On the upside, above 0.7068 minor resistance will bring stronger rebound to 0.7282 resistance first. Firm break there will be a sign of bullish reversal and bring stronger rebound to 0.7666 resistance.

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 still 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) 0.6527; (P) 0.6637; (R1) 0.6694; More…

Intraday bias in AUD/USD remains on the downside at this point. Fall from 0.7159 should target 161.8% projection of of 0.6854 to 0.7028 from 0.6854 at 0.6539. Some support could be seen there to bring recovery. Above 0.6694 resistance will turn bias back to the upside for recovery. However, sustained break of 0.6539 will pave the way back towards 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 0.7164). 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) 0.6817; (P) 0.6840; (R1) 0.6872; More…

A temporary top is in place at 0.6876 with 4 hour MACD crossed below signal line. Intraday bias is turned neutral first. With 0.6807 minor support intact, further rise is still in favor. On the upside, above 0.6876 will target 0.6910 support turned resistance, and possibly above. At this point, such rebound is seen as a corrective move, thus, upside should be limited below 0.7082 resistance to bring fall resumption. On the downside, below 0.6807 minor support will turn intraday bias back to the downside for retesting 0.6677 low.

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.