Daily Pivots: (S1) 0.6507; (P) 0.6545; (R1) 0.6576; More...

A temporary low should be in place at 0.6513 with current recovery. Intraday bias is turned neutral for consolidations. Further decline is expected as long as 55 4H EMA (now at 0.6639) holds. Sustained break of 61.8% retracement of 0.6361 to 0.6798 at 0.6528 will pave the way back to 1.6361 support next.

In the bigger picture, overall, price actions from 0.6169 (2022 low) are seen as a medium term corrective pattern, with fall from 0.6798 as another falling leg. Deeper fall could be seen to the lower side of the range between 0.6169/6361. But strong support should be seen there to contain downside. For now, risk will stay on the downside as long as 0.6798 resistance holds, in case of rebound.

Daily Pivots: (S1) 0.6870; (P) 0.6891; (R1) 0.6921; More…

Intraday bias in AUD/USD remains neutral as consolidation from 0.6929 is extending. In case of another fall, downside of retreat should be contained above 0.6809 support to bring another rise. Above 0.6929 will target 0.7082 key resistance. On the downside, though, break of 0.6809 support will suggest completion of the rebound and target 0.6670 low again.

In the bigger picture, the case of medium term bullish reversal is building up with bullish convergence condition in weekly MACD. But there is no clear confirmation yet. As long as 0.7082 resistance holds, larger 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 0.7531).

Daily Pivots: (S1) 0.6666; (P) 0.6698; (R1) 0.6717; More…

Intraday bias in AUD/USD remains neutral at this point. Further decline is expected as long as 0.6759 minor resistance holds. Firm break of 0.6639 will resume the fall from 0.6870 to 61.8% retracement of 0.6269 to 0.6870 at 0.6497 next. On the upside, break of 0.6759 will bring retest of 0.6870 resistance instead.

In the bigger picture, price actions from 0.6169 (2022 low) could be just a medium term corrective pattern to the down trend from 0.8006 (2021 high). Rise from 0.6269 is seen as the third leg of the pattern that could target 0.7156 on break of 0.6894 resistance. For now, range trading should be seen between 0.6169 and 0.7156 (2023 high), until further developments.

AUD/USD edged higher to 0.7812 last week but was rejected by near term channel resistance and dropped sharply. Initial bias stays on the downside this week for 0.7642 first. Break will resume the fall from 0.8135 to 0.7500 key support level. On the upside, above 0.7702 minor resistance will turn intraday bias neutral first.

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. In that case, AUD/USD would be heading back to 0.6826 low in medium term.

In the longer term picture, 0.6826 is seen as a long term bottom. Rise from there could either reverse the down trend from 1.1079, or just develop into a corrective pattern. At this point, we’re favoring the latter. And, as long as 38.2% retracement of 1.1079 to 0.6826 at 0.8451 holds, we’d anticipate another decline through 0.6826 at a later stage. But strong support should be seen between 0.4773 (2001 low) and 0.6008 (2008 low).

Daily Pivots: (S1) 0.7957; (P) 0.7982; (R1) 0.8023; More…

Intraday bias in AUD/USD remains neutral at this point. Further rally is expected as long as 0.7874 support holds. Above 0.8022 will extend the rise from 0.7500 to 0.8124 high. there will resume whole medium term rebound from 0.6826 and target key fibonacci level at 0.8451. On the downside, break of 0.7874 will indicate short term topping and turn bias to the downside for 55 day EMA (now at 0.7774).

In the bigger picture, current development suggests that medium term rebound from 0.6826 is still in progress and could be resuming. Such rise could target 38.2% retracement of 1.1079 (2011 high) to 0.6826 (2016 low) at 0.8451. As such rise is seen as a corrective move, we’d expect strong resistance from 0.8451 to limit upside.

Daily Pivots: (S1) 0.7665; (P) 0.7689; (R1) 0.7710; More…

Intraday bias in AUD/USD remains neutral for consolidation below 0.7711 temporary top. Further rally is expected as long as 0.7534 support holds. Above 0.7711 will target 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 0.8096) and above.

Daily Pivots: (S1) 0.7695; (P) 0.7721; (R1) 0.7755; More…

AUD/USD edged higher to 0.7747 but lost momentum since then, as seen in 4 hour MACD dragged below signal line. Further rise could be seen with 0.7662 minor support intact, through 0.7777 resistance. But at this point, we’d expect upside to be limited by 0.7849/50 cluster resistance to limit upside and bring reversal. That level represents 61.8% projection of 0.7158 to 0.7740 from 0.7490 at 0.7850 and key long term retracement level at 0.7849. On the downside, below 0.7662 minor support will turn bias to the downside for 0.7490 support first.

In the bigger picture, we’re still treating price actions from 0.6826 low as a correction. 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 seek to 55 month EMA (now at 0.8169) and above.

Daily Pivots: (S1) 0.6625; (P) 0.6648; (R1) 0.6663; More...

No change in AUD/USD’s outlook as consolidation from 0.6713 is still extending. Further rally is in favor with 0.6578 cluster support (38.2% retracement of 0.6361 to 0.6713 at 0.6579) intact. On the upside, firm break of 0.6713 will resume whole rise from 0.6361 to 0.6870 resistance next. However, sustained break of 0.6578 will dampen this bullish view, and bring deeper fall to 61.8% retracement at 0.6495.

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.

AUD/USD’s sharp decline last week suggests that rebound form 0.7158 is completed at 0.7740 already. As the pair drew support from 55 day EMA and recovered, initial bias is neutral this week first. Nonetheless, further decline is expected as long as 0.7635 minor resistance holds. Break of 0.7542 and sustained trading below 55 day EMA will pave the way back to 0.7144/7158 support zone. However, break of 0.7635 will dampen our bearish view and turn focus back to 0.7740 instead.

In the bigger picture, we’re still treating price actions from 0.6826 low as a correction. 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 seek to 55 month EMA (now at 0.8164) 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.

Daily Pivots: (S1) 0.7324; (P) 0.7340; (R1) 0.7364; More…

Intraday bias in AUD/USD remains neutral as consolidation from 0.7288 is extending. Outlook stays bearish as long as 0.7443 resistance holds. On the downside, break of 0.7288 will resume the fall from 0.8006 to 161.8% projection of 0.8006 to 0.7530 from 0.7890 at 0.7120 next. On the upside, break of 0.7443 will bring stronger rebound to 0.7530 support turned resistance instead.

In the bigger picture, rise from 0.5506 medium term bottom could have completed at 0.8006, after failing 0.8135 key resistance. Correction from there could target 0.6991 cluster support (38.2% retracement of 0.5506 to 0.8006 at 0.7051). We’d look for strong support from there to bring rebound. However, sustained break of this level would argue that the whole medium term trend has indeed reversed.

Daily Pivots: (S1) 0.7184; (P) 0.7243; (R1) 0.7273; More…

Intraday bias in AUD/USD remains neutral at this point. On the upside, sustained break of 0.7314 will indicate medium term reversal. Further rally should be seen to 38.2% retracement of 0.8135 to 0.7020 at 0.7446 next. Nevertheless, failure to sustain above 0.7314, and break of 0.7164 support will retain bearishness and turn bias back to the downside for retesting 0.7020 low.

In the bigger picture, AUD/USD’s decline from 0.8135 could have completed at 0.7020 already, ahead of 0.6826 key support (2016 low). Break of 0.7314 will confirm and bring strong rebound. But for now, we’d expect strong resistance from 0.7500 support turned resistance to limit upside. Medium term fall from 0.8135 should extend to take on 0.6826 low at a later stage.

Daily Pivots: (S1) 0.7347; (P) 0.7374; (R1) 0.7402; More…

Intraday bias in AUD/USD is turned neutral again as it recovered after hitting 0.7342. On the upside, break of 0.7492 minor resistance will turn bias back to the upside for 0.7660. Firm break there will resume larger rise from 0.6991 to retest 0.8006 high. On the downside, below 0.7342 will target 0.7164 support.

In the bigger picture, correction from 0.8006 could have completed at 0.6966, after drawing support from 0.6991. That is, up trend from 0.5506 (2020 low) might be ready to resume. Firm break of 0.8006 will target 61.8% projection of 0.5506 to 0.8006 from 0.6966 at 0.8511 next. This will remain the favored case as long as 0.7164 support holds.

Daily Pivots: (S1) 0.7299; (P) 0.7336; (R1) 0.7359; More…

AUD/USD’s decline from 0.7477 extends lower. But overall, another rise is still in favor as long as 0.7279 minor support holds. Whole corrective pattern from 0.8006 might have completed at 0.7105 already. On the upside, above 0.7409 minor resistance will turn bias to the upside for 0.7477 and then 0.7530 support turned resistance. However, break of 0.7279 will dampen our bullish view and turn bias back to the downside for 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) 0.6358; (P) 0.6386; (R1) 0.6406; More…

AUD/USD’s recovery from 0.6356 extends higher today but stays well below 0.6520 resistance. Intraday bias remains neutral and further decline is still expected. On the downside, break of 0.6356 will resume larger fall to 100% projection of 0.7156 to 0.6457 from 0.6894 at 0.6195.

In the bigger picture, current development argues that the down trend from 0.8006 (2021 high) is still in progress. Decisive break of 0.6169 will target 61.8% projection of 0.8006 to 0.6169 to 0.7156 at 0.6021. This will now remain the favored case as long as 0.6894, in case of strong rebound.

Daily Pivots: (S1) 0.6591; (P) 0.6626; (R1) 0.6646; More…

Intraday bias in AUD/USD is back on the downside with break of 0.6604 temporary lo, to 0.6563. Decisive break there will resume larger decline from 0.7156 to 61.8% projection of 0.7156 to 0.6563 from 0.6817 at 0.6451. On the upside, above 0.6674 minor resistance will delay the bearish case, and extend the corrective pattern from 0.6563 with another rising leg.

In the bigger picture, the failure to break through 55 W EMA (now at 0.6822) keeps medium term outlook bearish. Firm break of 61.8% retracement of 0.6169 to 0.7156 at 0.6546 will raise the chance of long term down trend resumption through 0.6169 low. This will now be the favored case as long as 0.6817 resistance holds.

AUD/USD rose to as high as 0.7302 last week but retreated ahead of 0.7314 key resistance. Initial bias is neutral this week first. ON the upside, decisive break of 0.7314 will indicate medium term reversal. Further rally should be seen to 38.2% retracement of 0.8135 to 0.7020 at 0.7446 next. However, break of 0.7182 will suggests that rebound from 0.7020 has completed and maintain medium term bearishness. Intraday bias would be turned back to the downside for retesting 0.7020 low.

In the bigger picture, as long as 0.7314 resistance holds, fall from 0.8135 is tentatively treated as resuming long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 will target 0.6008 key support next (2008 low). However, firm break of 0.7314 will suggest that whole decline from 0.8135 has completed. And, the corrective pattern from 0.6826 (2016 low) is extending with another rising leg towards 0.8135 before completion.

In the longer term picture, the corrective structure of rebound from 0.6826 (2016 low) to 0.8135, and the failure to break 38.2% retracement of 1.1079 (2011 high) to 0.6826 at 0.8451, carry bearish implications. AUD/USD was also rejected by 55 month EMA. Now, the down trend from 1.1079 is in favor to extend. On break of 0.6826, next target will be 61.8% projection of 1.1079 to 0.6826 from 0.8135 at 0.5507.

Daily Pivots: (S1) 1.2679; (P) 1.2706; (R1) 1.2737; More…

Intraday bias in USD/CAD remains neutral as range trading continues below 1.2795. Further rally is mildly in favor with 1.2634 support intact. On the upside, break of 1.2795 will resume the rally from 1.2448 to 1.2963 resistance next. However, break of 1.2634 support will turn bias back to the downside for 1.2448 support instead.

In the bigger picture, focus stays on 38.2% retracement of 1.4667 (2020 high) to 1.2005 (2021 low) at 1.3022. Sustained break there should confirm that the down trend from 1.4667 has completed after defending 1.2061 long term cluster support. Further rise would then be seen towards 61.8% retracement at 1.3650. However, rejection by 1.3022 will maintain medium term bearishness. Break of 1.2005 will resume the down trend from 1.4667 and that carries larger bearish implications too.

Daily Pivots: (S1) 0.7026; (P) 0.7054; (R1) 0.7070; More…

Intraday bias in AUD/USD remains neutral for the moment. Further rise is expected with 0.6996 minor support intact. Break of 0.7082 will target 100% projection of 0.6831 to 0.7047 from 0.6910 at 0.7126. Sustained break there will indicate solid upside momentum for 0.7205 resistance next. On the downside, break of 0.6996 will suggest that the rebound has completed and 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) 0.6716; (P) 0.6733; (R1) 0.6754; More….

Intraday bias in AUD/USD remains neutral first and further fall is expected as long as 0.6774 resistance holds. On the downside, decisive break of 0.6670 low would confirm larger down trend resumption. However, on the upside, break of 0.6774 resistance will indicate short term bottoming and bring stronger rebound.

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). Rejection by 55 week EMA affirms medium term bearishness. Next target is 0.6008 (2008 low). Outlook will stay bearish as long as 0.7031 resistance holds, even in case of strong rebound.

Daily Pivots: (S1) 0.6778; (P) 0.6822; (R1) 0.6848; More…

AUD/USD’s fall from 0.7156 resumed by breaking 0.6810 and intraday bias is back on the downside. Deeper decline would be seen to 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. But for now, risk will stay on the downside as long as 0.6919 minor resistance holds, in case of recovery.

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.