Daily Pivots: (S1) 0.6914; (P) 0.6920; (R1) 0.6926; More…

AUD/USD is staying below 0.6938 resistance and intraday bias remains neutral first. Further rally is still mildly in favor with 0.6838 support intact. On the upside, above 0.6938 will extend the rebound from 0.6670 to 100% projection of 0.6670 to 0.6929 from 0.6754 at 0.7013 next. However, break of 0.6838 will turn bias back to the downside for 0.6754 support 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 0.7502).

Daily Pivots: (S1) 0.6919; (P) 0.6965; (R1) 0.7031; More…

Intraday bias in AUD/USD remains neutral and more consolidation could be seen below 0.7045. On the upside, break of 0.7045 will resume the rebound from 0.6680 to 0.7282 key resistance next. On the downside, however, break of 0.6858 minor support will argue that the rebound is over. Intraday bias will then be back on the downside for retesting 0.6680 low.

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.

AUD/USD’s consolidation from 0.6677 continued last week and outlook is unchanged. Initial bias stays neutral this week first. On the upside, break of 0.6822 will extend the rebound from 0.6677. But upside should be limited below 0.6910 support turned resistance to bring fall resumption. On the downside, break of 0.6677 will target 100% projections of 0.7295 to 0.6831 from 0.7082 at 0.6618.

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.

In the longer term picture, prior rejection by 55 month EMA maintained long term bearishness in AUD/USD. That is, down trend from 1.1079 (2011 high) is still in progress. Sustained break of 0.6826 will target 0.6008 low and then 61.8% projection of 1.1079 to 0.6826 from 0.8135 at 0.5507.

Daily Pivots: (S1) 0.6795; (P) 0.6813; (R1) 0.6831; More…

Focus remains on 0.6822 resistance in AUD/USD. Decisive break will resume rebound from 0.6677. Intraday bias will be turned back to the upside for 0.6910 support turned resistance. Though, rejection by 0.6822 resistance will maintain near term bearishness. Break of 0.6677 will extend larger down trend to 100% projections of 0.7295 to 0.6831 from 0.7082 at 0.6618.

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) 0.7174; (P) 0.7249; (R1) 0.7299; More…

Intraday bias in AUD/USD remains neutral with focus on 0.7135 support. Decisive break there will suggest that it’s already correcting the whole rise from 0.5506. Deeper fall would be seen to 38.2% retracement of 0.5506 to 0.7413 at 0.6685. Nevertheless, as long as 0.7135 holds, another rise is still in favor through 0.7413 before topping.

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) 0.6826; (P) 0.6898; (R1) 0.6946; More…

Intraday bias in AUD/USD remains on the downside with focus on 0.6828 low. Firm break there will resume larger fall from 0.8006 to 0.6756/60 cluster support. On the upside, above 0.7033 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 0.7282 resistance holds.

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) 0.6850; (P) 0.6889; (R1) 0.6917; More…

Despite some loss of downside momentum, intraday bias in AUD/USD stays on the downside. Corrective rebound from 0.6680 should have completed with three waves up to 0.7135. Deeper decline should be seen for retesting 0.6680 low next. On the upside, above 0.6969 minor resistance will mix up the outlook and turn intraday bias neutral first.

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 also 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) 0.6592; (P) 0.6649; (R1) 0.6683; More…

AUD/USD’s break of 0.6619 support argues that consolidation pattern from 0.6563 has completed at 0.6804, and larger fall from 0.7156 is ready to resume. Intraday bias is now on the downside for 0.6563 support first. Firm break there should bring deeper decline through 0.6546 fibonacci level to 61.8% projection of 0.7156 to 0.6563 from 0.6804 at 0.6438 next. On the upside, though, above 0.6704 minor resistance will delay the bearish case and turn intraday bias neutral first.

In the bigger picture, as long as 61.8% retracement of 0.6169 to 0.7156 at 0.6546 holds, the decline from 0.7156 is seen as a correction to rally from 0.6169 (2022 low) only. Another rise should still be seen through 0.7156 at a later stage. However, sustained break of 0.6546 will raise the chance of long term down trend resumption through 0.6169 low.

Daily Pivots: (S1) 0.6901; (P) 0.6963; (R1) 0.7064; More…

Intraday bias in AUD/USD is turned neutral first with current recovery. Risk will stay on the downside as long as 0.7282 resistance holds. On the downside, firm break of 0.6828 support will resume larger fall from 0.8006. Next target is 0.6756/60 cluster support.

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) 0.6253; (P) 0.6333; (R1) 0.6392; More…

AUD/USD’s recovery lost momentum and intraday bias is turned neutral again. Stronger rise could still be seen towards 0.6539. And firm break there will target 55 day EMA (now at 0.6602). However, firm break of 0.6169 support will now confirm down trend resumption.

In the bigger picture, down trend form 0.8006 (2021 high) is expected to continue as long as 0.6680 support turned resistance holds. Next target is 0.5506 low. Medium term momentum will now be closely monitored to gauge the chance of break of 0.5506.

Daily Pivots: (S1) 0.6891; (P) 0.6906; (R1) 0.6917; More…

Intraday bias in AUD/USD remains neutral for consolidation above 0.6849 temporary low. Outlook is unchanged that rebound from 0.6670 could have completed with three waves up to 0.7031. On the downside, break of 0.6849 will target 0.6754 support to confirm this bearish case. However, break of 0.6930 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 0.7487).

Daily Pivots: (S1) 0.7216; (P) 0.7231; (R1) 0.7255; More…

As long as 0.7081 support holds, rebound form 0.6992 is expected to continue higher. 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, break of 0.7081 support will turn focus back to 0.6991/2 support instead.

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) 0.6568; (P) 0.6629; (R1) 0.6661; More…

Intraday bias in AUD/USD stays on the downside at this point. Sustained break of 61.8% retracement of 0.6457 to 0.6898 at 0.6625 will path the way back to 0.6457 key support level. On the upside, above 0.6719 resistance will turn intraday bias neutral again first.

In the bigger picture, outlook is mixed up by the deeper than expected pull back from 0.6898. Still, price actions from 0.7156 are seen as a correction to rebound from 0.6169. Break of 0.6457 will resume the fall towards 0.6169 low. On the upside, though, break of 0.6898 resistance will argue that rise from 0.6169 is ready to resume through 0.7156.

Daily Pivots: (S1) 0.7209; (P) 0.7253; (R1) 0.7282; More…

Downside momentum in AUD/USD remains unconvincing. But with 0.7320 minor resistance intact, fall from 0.7277 is still in progress for 0.7105 low first. Firm break there will resume whole decline from 0.8006 for 0.6991 support next. On the upside, above 0.7320 minor resistance will turn bias back to the upside for 0.7477 resistance 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 from 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) 0.6525; (P) 0.6546; (R1) 0.6561; More…

Intraday bias in AUD/USD stays neutral at this point. While recovery from 0.6442 could extend higher, outlook will remain bearish as long as 0.6621 resistance holds. On the downside, below 0.6520 minor support will turn bias to the downside for retesting 0.6442. Nevertheless, considering bullish convergence condition in 4H MACD, decisive break of 0.6621 will turn near term outlook bullish for 0.6870 resistance instead.

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) 0.6941; (P) 0.6967; (R1) 0.7000; More…

Intraday bias in AUD/USD remains neutral at this point. On the downside, firm break of 0.6828 support will resume larger fall from 0.8006. Next target is 0.6756/60 cluster support. However, firm break of 0.7282 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) 0.6708; (P) 0.6746; (R1) 0.6797; More…

Intraday bias in AUD/USD remains neutral for the moment. Deeper decline is expected as long as 0.6854 support turned resistance holds. Break of 0.6693 will resume the fall from 0.7156 to 161.8% projection of of 0.6854 to 0.7028 from 0.6854 at 0.6539. Nevertheless, firm break of 0.6854 will argue that such decline is finished, and revive near term bullishness.

In the bigger picture, focus is now on 0.6721 structural support. Sustained break there will argue that whole rise from 0.6169 (2022 low) has completed at 0.7156, after rejection by 55 month EMA (now at 0.7179). 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. Nevertheless, strong rebound from current level will retain medium term bullishness for another rise through 0.7156 later.

Daily Pivots: (S1) 0.7714; (P) 0.7750; (R1) 0.7793; More…

Intraday bias in AUD/USD remains on the upside at this point. Rise form 0.7503 should target 0.7848 resistance first. Firm break there should confirm that correction from 0.8006 has completed with three waves down to 0.7530. Retest of 0.8006 high should be seen next. On the downside, below 0.7705 minor support will turn intraday bias neutral first.

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) 0.7332; (P) 0.7371; (R1) 0.7393; More…

Intraday bias in AUD/USD remains neutral for the moment. As noted before, whole corrective pattern from 0.8006 might have completed at 0.7105 already. Further rise is in favor as long as 0.7279 minor support holds. Above 0.7477 will target 0.7530 support turned resistance first. 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) 0.7067; (P) 0.7117; (R1) 0.7143; More…

Intraday bias in AUD/USD remains neutral at this point. On the downside, decisive break of 0.7054 support should confirm completion of rebound from 0.6722. Further decline should then be seen to 61.8% retracement of 0.6722 to 0.7295 at 0.6941 next. On the upside, though, break of 0.7206 will turn focus back to 0.7295 resistance instead.

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.