Daily Pivots: (S1) 0.7039; (P) 0.7152; (R1) 0.7227; More…

AUD/USD’s rebound lost steam after hitting 0.7265 and retreats sharply. Intraday bias is turned neutral at this point. Outlook is unchanged that fall from 0.7660 is the third leg of the corrective pattern from 0.8006. On the downside, below 0.7029 will target 0.6966 low first. Firm break there will confirm this bearish case and target 0.6756 medium term fibonacci level next.

In the bigger picture, price actions from 0.8006 are seen as a corrective pattern to rise from 0.5506 (2020 low). Fall from 0.7660 should be the third leg of this pattern. Break of 0.6966 will target 50% retracement of 0.5506 to 0.8006 at 0.6756. On the upside, break of 0.7660 will revive that case that the correction has already completed at 0.6966.

Daily Pivots: (S1) 0.7677; (P) 0.7730; (R1) 0.7765; More…

Intraday bias in AUD/USD remains neutral for the moment. Further rise is still in favor with 0.7676 minor support intact. On the upside, break of 0.7815 will resume the rebound from 0.7530. Further break of 0.7848 will bring retest of 0.8006 high. However, break of 0.7667 will extend the consolidation pattern from 0.8006, and turn bias to the downside for 0.7530 support.

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) 0.6600; (P) 0.6629; (R1) 0.6672; More…

AUD/USD rebounds in early US session with break of 0.6657 resistance. We’re disregarding the spike low earlier today, due to extreme thin Asian market. Corrective rebound from 0.6433 is extending with intraday bias to the upside to 55 day EMA (now at 0.6720) and above. We’d expect strong resistance from 61.8% retracement of 0.7031 to 0.6433 at 0.6803 to limit upside.

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) 0.6508; (P) 0.6532; (R1) 0.6577; More…

Intraday bias in AUD/USD remains on the upside at this point. Current rise from 0.5506 should target 0.6670 key resistance. On the downside, below 0.6505 minor support will turn intraday bias neutral first. Further break of 0.6253 support will argue that rebound from 0.5506 has completed.

In the bigger picture, there is no clear sign of trend reversal yet. The larger down trend from 1.1079 (2011 high) is still in favor to 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.

Daily Pivots: (S1) 0.6492; (P) 0.6509; (R1) 0.6539; More…

AUD/USD is extending consolidations from 0.6468 and intraday bias remains neutral. Stronger recovery cannot be ruled out, but outlook will stay bearish as long as 0.6621 resistance holds. On the downside, break of 0.6468 will resume the fall from 0.6870, as part of the down trend from 0.7156, to 61.8% projection of 0.6870 to 0.6524 from 0.6621 at 0.6407 next.

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) 0.7411; (P) 0.7443; (R1) 0.7462; More…

The break of 0.7405 minor support confirmed that corrective rise from 0.7328 has completed at 0.7516. Intraday bias is turned back to the downside for 0.7328 first. Break will extend the decline from 0.7748 to 0.7144/7158 support zone. However, break of 0.7516 resistance will now indicate near term reversal and turn bias back to the upside.

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 0.8115) and above.

Daily Pivots: (S1) 0.7285; (P) 0.7312; (R1) 0.7335; More…

Intraday bias in AUD/USD remains mildly on the upside as rise from 0.7169 is in progress. Further rally would be seen to 0.7477 resistance first. Sustained break there will argue that larger decline from 0.8006 has completed and turn near term outlook bullish. On the downside, below 0.7224 minor support should resume the fall from 0.7477 through 0.7169 to retest 0.7105 low.

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) 0.7307; (P) 0.7350; (R1) 0.7418; More…

Intraday bias in AUD/USD is now mildly on the upside for 0.7440 resitsance first. Break will resume the rebound from 0.6966 to 0.7555 resistance next. As noted before, larger decline from 0.8006 might have completed at 0.6966 already. Further break of 0.7555 should confirm this bullish case. On the odwnside, below 0.7301 minor support will turn bias neutral first. But further rally will remain in favor as long as 0.7164 support holds.

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 for another rise through 0.8006 at a later stage.

Daily Pivots: (S1) 0.7182; (P) 0.7208; (R1) 0.7243; More…

AUD/USD gyrated higher but stays below 0.7247 resistance. Intraday bias remains neutral first. Further rise would remain in favor as long as 0.7050 support holds. Above 0.7247 will target 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, however, break of 0.7050 support will bring retest of 0.6966 low instead.

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) 0.6783; (P) 0.6819; (R1) 0.6848; More…

AUD/USD’s break of 0.6873 minor resistance confirms short term bottoming at 0.6680, on bullish convergence condition in 4 hour MACD. Intraday bias back on the upside for 55 day EMA (now at 0.6982) and above. On the downside, below 0.6801 minor support will turn bias back to the downside for retesting 0.6680 low instead.

In the bigger picture, price actions from 0.8006 could still be a corrective pattern to rise from 0.5506 (2020 low). But current downside acceleration is raising the chance that it’s 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) 0.7003; (P) 0.7035; (R1) 0.7087; More…

AUD/USD recovered after dipping to 0.6982 and intraday bias is turned neutral first. Risk stays mildly on the downside as long as 0.7141 resistance holds. Below 0.6982 will resume the correction to 0.6871 support, or further to 55 day EMA (now at 0.6848). On the upside, firm break of 0.7141 will resume the rally from 0.6169 to 0.7304 fibonacci level.

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) 0.6619; (P) 0.6647; (R1) 0.6678; More…

Intraday bias in AUD/USD remains neutral and outlook is unchanged. Further decline is in favor as long as 0.6708 resistance holds. Below 0.6604 will bring retest of 0.6563 low first. 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 0.6708 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.

Daily Pivots: (S1) 0.6327; (P) 0.6369; (R1) 0.6437; More…

AUD/USD’s recovery form 0.6169 resumes after brief setback and intraday bias is back on the upside for 0.6539 resistance. Firm break there, and sustained trading above 55 day EMA (now at 0.6577), will raise the chance of medium term bottoming, and target 0.6680 support turned resistance next. On the downside, though, break of 0.6169 low will resume larger down trend.

In the bigger picture, down trend form 0.8006 (2021 high) is expected to continue as long as 0.6680 support turned resistance holds. Medium term momentum remains strong and retest of 0.5506 (2020 low) cannot be ruled out. But firm break of 0.6680 will be the first sign of reversal, and bring stronger rebound back to 0.7135 resistance.

Daily Pivots: (S1) 0.6294; (P) 0.6318; (R1) 0.6350; More…

Intraday bias in AUD/USD stays neutral at this point, and consolidation from 0.6284 could extend further. Outlook will stay bearish as long as 0.6500 resistance holds. Below 0.6284 will resume the fall from 0.7156. Next target is 100% projection of 0.7156 to 0.6457 from 0.6894 at 0.6195.

In the bigger picture, down trend from 0.8006 (2021 high) is possibly 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) 0.6343; (P) 0.6357; (R1) 0.6376; More…

Intraday bias in AUD/USD stays on the downside at this point. Deeper fall should be seen back to retest 0.6269. Firm break there will resume larger fall from 0.7156, to retest 0.6169 low. On the upside, above 0.6427 minor resistance will turn intraday bias neutral first. Overall, outlook will stay bearish as long as 0.6510 cluster resistance (38.2% retracement of 0.6894 to 0.6269 at 0.6508) holds.

In the bigger picture, there is no confirmation that down trend from 0.8006 (2021 high) has completed. While current rebound from 0.6269 might extend higher, it could be the third leg of a corrective pattern from 0.6169 (2022 low) only. For now, medium term bearishness will remain as long as 0.6894 resistance holds.

Daily Pivots: (S1) 0.6746; (P) 0.6770; (R1) 0.6816; More…

Intraday bias in AUD/USD remains neutral at this point. On the downside below 0.6714 will resume the fall from 0.6894, as the third leg of the corrective pattern from 0.6898. But downside should be contained above 0.6594 support to bring rebound. On the upside, above 0.6845 will bring retest of 0.6898 resistance. Decisive break there will resume rise from 0.6457.

In the bigger picture, price actions from 0.7156 are seen as a correction to the rebound from 0.6169 (2022 low). Break of 0.6898 resistance will argue that rise from 0.6169 is ready to resume through 0.7156. Next target will be 100% projection of 0.6169 to 0.7156 from 0.6457 at 0.7444. For now, this will be the favored case as long as 55 D EMA (now at 0.6715) holds.

Daily Pivots: (S1) 0.7249; (P) 0.7283; (R1) 0.7344; More…

Intraday bias in AUD/USD remains mildly on the upside, as rebound from 0.7105 would target 0.7425 resistance. Sustained break there will argue that whole correction from 0.8006 has completed at 0.7105 already, just above 0.6991/7051 support zone. Stronger rise would be seen to 0.7530 support turned resistance for confirmation. On the downside, below 0.7221 minor support will turn bias back to the downside for 0.7105 and possibly below. But we’d continue to look for strong support from 0.6991/7051 cluster support to bring rebound.

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. Deeper decline would be seen to 61.8% retracement at 0.6461.

Daily Pivots: (S1) 0.7831; (P) 0.7854; (R1) 0.7880; More…

Intraday bias in AUD/USD remains neutral with 0.7909 minor resistance intact, and deeper fall is in favor. Break of 0.7758 will extend the fall from 0.8135 to 0.7500 key support. At this point, there is no clearly sign of larger trend reversal yet. Hence, we’d look for strong support from 0.7500 to contain downside and bring rebound. On the upside, above 0.7909 minor resistance will turn bias back to the upside for retesting 0.8135 high.

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.

Daily Pivots: (S1) 0.7362; (P) 0.7385; (R1) 0.7410; More…

Outlook in AUD/USD remains unchanged. The corrective rise from 0.7309 is still in progress and could extend to 55 day EMA (now at 0.7513) or above. But upside should be limited below 0.7676 resistance to bring fall resumption. Sustained break of 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.

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) 0.6752; (P) 0.6829; (R1) 0.6894; More…

Intraday bias in AUD/USD remains neutral a this point. Strong support could still be seen from 0.6756/60 cluster support to bring rebound. On the upside, above 0.6918 resistance will indicate short term bottoming, and turn bias back to the upside for 0.7282 resistance. However, sustained break of 0.6756/60 will carry larger bearish implication and target 0.6461 fibonacci level next.

In the bigger picture, price actions from 0.8006 are seen as a corrective pattern to rise from 0.5506 (2020 low). Strong support is expected from 50% retracement of 0.5506 to 0.8006 at 0.6756 to complete the pattern. This coincides with 100% projection of 0.8006 to 0.7105 from 0.7660 at 0.6760. However firm break of 0.6756/60 will raise the chance of bearish reversal and target 61.8% retracement at 0.6461.