AUD/USD edged higher to 0.7413 last week but retreated notably since then. Initial bias stays neutral this week first for some more consolidations. As long as 0.7135 support holds, further rally is expected. On the upside, break of 0.7413 will target 0.7635 long term fibonacci level next. However, on the downside, decisive break of 0.7135 will confirm short term topping, and turn bias to the downside for 55 day EMA (0.7094) as correction.

In the bigger picture, rebound from 0.5506 medium term bottom is seen as correcting whole long term down trend from 1.1079 (2011 high). Further rise should be seen to 38.2% retracement of 1.1079 (2011 high) to 0.5506 (2020 low) at 0.7635 next. On the downside, break of 0.6776 support is needed to be the first sign of completion of the rebound. Otherwise, outlook will stay bullish in case of pull back.

In the longer term picture, the rebound from 0.5506 is strong and steep. Bullish convergence condition is seen in monthly MACD. 55 month EMA is also violated. The case of long term reversal is building up. Focus is now on 38.2% retracement of 1.1079 (2011 high) to 0.5506 (2020 low) at 0.7635. Decisive break there will confirm bullish reversal and target 61.8% retracement at 0.8950. Nevertheless, rejection by 0.7635 will retain bearishness.

Daily Pivots: (S1) 0.7246; (P) 0.7292; (R1) 0.7319; More…

Intraday bias in AUD/USD remains neutral at this point. Consolidation from 0.7413 might extend further. But after all, near term will remain bullish as long as 0.7135 support holds. Break of 0.7413 will resume larger rise from 0.5506 to 0.7635 long term fibonacci level next. Nevertheless, sustained break of 0.715 will confirm short term topping and bring deeper pull back towards 0.6776 support.

In the bigger picture, rebound from 0.5506 medium term bottom is seen as correcting whole long term down trend from 1.1079 (2011 high). Further rise should be seen to 38.2% retracement of 1.1079 (2011 high) to 0.5506 (2020 low) at 0.7635 next. On the downside, break of 0.6776 support is needed to be the first sign of completion of the rebound. Otherwise, outlook will stay bullish in case of pull back.

Daily Pivots: (S1) 0.7298; (P) 0.7340; (R1) 0.7379; More…

Intraday bias in AUD/USD remains neutral for consolidation below 0.7413 temporary top. Near term outlook will remain bullish as long as 0.7135 support holds. Break of 0.7413 will resume larger rise from 0.5506 to 0.7635 long term fibonacci level next.

In the bigger picture, rebound from 0.5506 medium term bottom is seen as correcting whole long term down trend from 1.1079 (2011 high). Further rise should be seen to 38.2% retracement of 1.1079 (2011 high) to 0.5506 (2020 low) at 0.7635 next. On the downside, break of 0.6776 support is needed to be the first sign of completion of the rebound. Otherwise, outlook will stay bullish in case of pull back.

Daily Pivots: (S1) 0.7351; (P) 0.7382; (R1) 0.7406; More…

Intraday bias in AUD/USD is turned neutral as a temporary top was formed at 0.7413 with current retreat. Intraday bias is turned neutral for consolidations. Near term outlook will remain bullish as long as 0.7135 support holds. Break of 0.7413 will resume larger rise from 0.5506 to 0.7635 long term fibonacci level next.

In the bigger picture, rebound from 0.5506 medium term bottom is seen as correcting whole long term down trend from 1.1079 (2011 high). Further rise should be seen to 38.2% retracement of 1.1079 (2011 high) to 0.5506 (2020 low) at 0.7635 next. On the downside, break of 0.6776 support is needed to be the first sign of completion of the rebound. Otherwise, outlook will stay bullish in case of pull back.

Daily Pivots: (S1) 0.7344; (P) 0.7374; (R1) 0.7407; More…

AUD/USD’s rally is still in progress and intraday bias remains on the upside. Current rise should target 0.7635 long term fibonacci level next. On the downside, below 0.7340 minor support will turn intraday bias neutral first. But break of 0.7135 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

In the bigger picture, rebound from 0.5506 medium term bottom is seen as correcting whole long term down trend from 1.1079 (2011 high). Further rise should be seen to 38.2% retracement of 1.1079 (2011 high) to 0.5506 (2020 low) at 0.7635 next. On the downside, break of 0.6776 support is needed to be the first sign of completion of the rebound. Otherwise, outlook will stay bullish in case of pull back.

Daily Pivots: (S1) 0.7292; (P) 0.7329; (R1) 0.7403; More…

Intraday bias in AUD/USD remains on the upside at this point. Current rally should now target 0.7635 long term fibonacci level next. On the downside, break of 0.7135 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

In the bigger picture, rebound from 0.5506 medium term bottom is seen as correcting whole long term down trend from 1.1079 (2011 high). Further rise should be seen to 38.2% retracement of 1.1079 (2011 high) to 0.5506 (2020 low) at 0.7635 next. On the downside, break of 0.6776 support is needed to be the first sign of completion of the rebound. Otherwise, outlook will stay bullish in case of pull back.

AUD/USD’s rally from 0.5506 extended to as high as 0.7365 last week. Initial bias stays on the upside this week for 0.7635 long term fibonacci level next. On the downside, break of 0.7135 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.

In the bigger picture, rebound from 0.5506 medium term bottom is seen as correcting whole long term down trend from 1.1079 (2011 high). Further rise should be seen to 38.2% retracement of 1.1079 (2011 high) to 0.5506 (2020 low) at 0.7635 next. On the downside, break of 0.6776 support is needed to be the first sign of completion of the rebound. Otherwise, outlook will stay bullish in case of pull back.

In the longer term picture, the rebound from 0.5506 is strong and steep. Bullish convergence condition is seen in monthly MACD. 55 month EMA is also taken out. The case of long term reversal is building up. Focus is now on 38.2% retracement of 1.1079 (2011 high) to 0.5506 (2020 low) at 0.7635. Decisive break there will confirm bullish reversal and target 61.8% retracement at 0.8950. Nevertheless, rejection by 0.7635 will retain bearishness.

Daily Pivots: (S1) 0.7219; (P) 0.7255; (R1) 0.7292; More…

AUD/USD’s break of 0.7275 confirms resumption of whole rise from 0.5506. Intraday bias is back on the upside, with focus on 0.7311 long term EMA. Sustained trading above there will pave the way to 0.7635 fibonacci level. On the downside, break of 0.7135 support should indicate short term topping and bring correction.

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). Firm break there will target 38.2% retracement of 1.1079 (2011 high) to 0.5506 (2020 low) at 0.7635. This will remain the preferred case as long as it stays above 55 week EMA (now at 0.6853). However, sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

Daily Pivots: (S1) 0.7203; (P) 0.7221; (R1) 0.7255; More…

AUD/USD is still staying in range below 0.7275 and intraday bias remains neutral first. Further rise could be seen with 0.7109 intact. above 0.7275 will extend the rise from 0.5506 to 0.7311 long term EMA. However, considering persistent bearish divergence condition in 4 hour MACD, break of 0.7109 support should confirm short term topping. Intraday bias will be turned back to the downside for correction towards 0.6776 support.

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 0.6817). However, sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

Daily Pivots: (S1) 0.7164; (P) 0.7181; (R1) 0.7211; More…

Intraday bias in AUD/USD remains neutral first as range trading continues. Further rise could be seen with 0.7109 intact. above 0.7275 will extend the rise from 0.5506 to 0.7311 long term EMA. However, considering persistent bearish divergence condition in 4 hour MACD, break of 0.7109 support should confirm short term topping. Intraday bias will be turned back to the downside for correction towards 0.6776 support.

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 0.6817). However, sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

Daily Pivots: (S1) 0.7141; (P) 0.7173; (R1) 0.7193; More…

AUD/USD is staying in range of 0.7109/7275 for now. Intraday bias remains neutral and outlook is unchanged. Further rise could be seen with 0.7109 intact. above 0.7275 will extend the rise from 0.5506 to 0.7311 long term EMA. However, considering persistent bearish divergence condition in 4 hour MACD, break of 0.7109 support should confirm short term topping. Intraday bias will be turned back to the downside for correction towards 0.6776 support.

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 0.6817). However, sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

Daily Pivots: (S1) 0.7127; (P) 0.7172; (R1) 0.7203; More…

Intraday bias in AUD/USD remains neutral at this point. Further rise remains in favor as long as 0.7109 support holds. Above 0.7275 will extend the rise from 0.5506 to 0.7311 long term EMA. However, considering persistent bearish divergence condition in 4 hour MACD, break of 0.7109 support should confirm short term topping. Intraday bias will be turned back to the downside for correction towards 0.6776 support.

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 0.6817). However, sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

AUD/USD edged higher to 0.7275 last week but quickly retreated. Initial bias remains neutral this week first and further rise remains in favor as long as 0.7109 support holds. Above 0.7275 will extend the rise from 0.5506 to 0.7311 long term EMA. However, considering persistent bearish divergence condition in 4 hour MACD, break of 0.7109 support should confirm short term topping. Intraday bias will be turned back to the downside for correction towards 0.6776 support.

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 0.6817). However, 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 0.7311) will raise the chance of long term reversal and turn focus back to 0.8135 key resistance.

Daily Pivots: (S1) 0.7153; (P) 0.7177; (R1) 0.7219; More…

Intraday bias in AUD/USD remains neutral for the moment. Further rise could be seen as long as 0.7109 support holds. Break of 0.7275 will target 0.7311 long term EMA. Nevertheless, considering persistent bearish divergence condition in 4 hour MACD, break of 0.7109 support should confirm short term topping. Intraday bias will be turned back to the downside for correction towards 0.6776 support.

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 0.6804). However, sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

Daily Pivots: (S1) 0.7150; (P) 0.7213; (R1) 0.7247; More…

AUD/USD retreated sharply after hitting 0.7275 and intraday bias is turned neutral. Further rise could be seen as long as 0.7109 support holds. Break of 0.7275 will target 0.7311 long term EMA. Nevertheless, considering persistent bearish divergence condition in 4 hour MACD, break of 0.7109 support should confirm short term topping. Intraday bias will be turned back to the downside for correction towards 0.6776 support.

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 0.6804). However, sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

Daily Pivots: (S1) 0.7214; (P) 0.7240; (R1) 0.7270; More…

Intraday bias in AUD/USD remains on the upside at this point. Current rise from 0.5506 should target 0.7311 long term EMA. On the downside, break of 0.7109 support is needed to indicate short term topping. Otherwise, outlook will stay bullish in case of retreat.

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 0.6804). However, sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

Daily Pivots: (S1) 0.7145; (P) 0.7160; (R1) 0.7188; More…

AUD/USD’s break of 0.7243 resistance suggests rally resumption. Intraday bias is back on the upside as rise from 0.5506 should target 0.7311 long term EMA. On the downside, break of 0.7109 support is needed to indicate short term topping. Otherwise, outlook will stay bullish in case of retreat.

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 0.6804). However, sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

Daily Pivots: (S1) 0.7145; (P) 0.7160; (R1) 0.7188; More…

AUD/USD is staying in consolidation from 0.7243 and intraday bias remains neutral first. As long as 0.7076 support holds, another rally could still be seen. Break of 07243 will resume larger rise from 0.5506. Nevertheless, considering bearish divergence condition in 4 hour MACD, break of 0.7076 support should confirm short term topping. In this case, intraday bias will be turned back to the downside for 0.6776 support.

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 0.6804). However, sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

Daily Pivots: (S1) 0.7145; (P) 0.7160; (R1) 0.7188; More…

Intraday bias in AUD/USD remains neutral as sideway consolidations continue. As long as 0.7076 support holds, another rally could still be seen. Break of 07243 will resume larger rise from 0.5506. Nevertheless, considering bearish divergence condition in 4 hour MACD, break of 0.7076 support should confirm short term topping. In this case, intraday bias will be turned back to the downside for 0.6776 support.

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 0.6804). However, sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

AUD/USD stays in consolidation below 0.7243 last week and outlook is unchanged. Initial bias remains neutral this week first. As long as 0.7076 support holds, another rally could still be see. Break of 07243 will resume larger rise from 0.5506. Nevertheless, considering bearish divergence condition in 4 hour MACD, break of 0.7076 support should confirm short term topping. In this case, intraday bias will be turned back to the downside for 0.6776 support.

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 0.6804). However, 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 0.7311) will raise the chance of long term reversal and turn focus back to 0.8135 key resistance.