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) 0.7285; (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) 0.6492; (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) 0.7307; (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) 0.6746; (P) 0.6797; (R1) 0.6829; More…

Intraday bias in AUD/USD stays neutral at this point. On the upside, decisive break of 0.6898 resistance will firstly confirm resumption of rise from 0.6457. Secondly, that should also confirm completion of the fall from 0.7156 at 0.6457. Next target will be 100% projection of 0.6457 to 0.6898 from 0.6594 at 0.7035, and then 0.7156 resistance.

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 0.6703) holds.

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) 0.6714; (P) 0.6755; (R1) 0.6829; More…

AUD/USD’s rebound from 0.6594 resumed after brief retreat. Intraday bias is back on the upside for 0.6898 resistance next. Firm break there will firstly confirm resumption of rise from 0.6457. Secondly, that should also confirm completion of the fall from 0.7156 at 0.6457. Further rally should then be seen to 0.7156 next. On the downside, however, below 0.6783 minor support will turn intraday bias neutral again.

In the bigger picture, price actions from 0.7156 are seen as a correction to the rebound from 0.6169 only, rather than part of larger down trend from 0.8006 (2021 high). Break of 0.6457 could cannot be ruled out but downside should be contained above 0.6169. Meanwhile, break of 0.6898 resistance will argue that rise from 0.6169 is ready to resume through 0.7156.

Daily Pivots: (S1) 0.7376; (P) 0.7415; (R1) 0.7458; More…

With 0.7351 minor support intact, further rise is expected in AUD/USD. Current rally from 0.5506 should target 0.7635 key long term fibonacci level. On the downside, however, break of 0.7351 will indicate short term topping and turn bias back to the downside for pull back.

In the bigger picture, the sustained trading above 55 week EMA (now at 0.6978) is a sign of medium term bullishness. Nevertheless, AUD/USD will still need to overcome 38.2% retracement of 1.1079 (2011 high) to 0.5506 (2020 low) at 0.7635 decisively to indicate completion of long term down trend from 1.1079. Otherwise, current rebound from 0.5506 could still turn out to be a correction in the long term down trend.

Daily Pivots: (S1) 0.6859; (P) 0.6894; (R1) 0.6927; More…

Intraday bias in AUD/USD remains neutral as consolidation from 0.6949 temporary top is extending. Outlook will stay bullish as long as 0.6721 support holds. Break of 0.6949 will resume larger rise from 0.6169 to 61.8% projection of 0.6169 to 0.6892 from 0.6721 at 0.7444 next. However, firm break of 0.6721 will indicate near term reversal and turn bias back to the downside.

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 0.6871. 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) 0.7208; (P) 0.7239; (R1) 0.7260; More…

Intraday bias in AUD/USD remains neutral at this point. 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.

Daily Pivots: (S1) 0.6666; (P) 0.6686; (R1) 0.6706; More….

As long as 0.6774 resistance holds, further decline is expected in AUD/USD. Decisive break of 0.6670 low will confirm down trend resumption. Next near term target is 61.8% projection of 0.6933 to 0.6678 from 0.6774 at 0.6616 and then 100% projection at 0.6519. On the upside, break of 0.6774 resistance, however, 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) 0.6523; (P) 0.6543; (R1) 0.6556; More...

AUD/USD’s fall from 0.6798 resumes today and hits as low as 0.6479 so far. Intraday bias is back on the downside for 0.6361 support first. Firm break there will target 0.6269 low. On the upside though, above 0.6567 resistance will turn intraday bias neutral first.

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) 0.6652; (P) 0.6704; (R1) 0.6737; More…

Break of 0.6648 minor support argues that AUD/USD’s recovery from 0.6563 has completed at 0.6758, ahead of 55 day EMA. Intraday bias is back on the downside for 0.6563 low and 0.6546 fibonacci level. Decisive break there will resume whole fall from 0.7156 and carries larger bearish implications.

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) 0.6403; (P) 0.6425; (R1) 0.6447; More…

Intraday bias in AUD/USD stays neutral at this point, as consolidation from 0.6356 is extending. Further decline is expected as long as 0.6520 resistance holds. Break of 0.6356 will resume larger down trend to 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.

AUD/USD’s fall from 0.6798 short term top extended lower last week. Initial bias stays on the downside this week for 38.2% retracement of 0.6361 to 0.6798 at 0.6631. Strong rebound would be seen there to bring rebound. On the upside, above 0.6754 minor resistance will turn bias back to the upside for retesting 0.6798.

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. Break of 0.6870 will target 100% projection of 0.6269 to 0.6870 from 0.6361 at 0.6962.

In the long term picture, the down trend from 1.1079 (2011 high) should have completed at 0.5506 (2020 low) already. It’s unsure yet whether price actions from 0.5506 are developing into a corrective pattern, or trend reversal. But in either case, fall from 0.8006 is seen as the second leg of the pattern. Hence, in case of deeper decline, strong support should emerge above 0.5506 to bring reversal.