Daily Pivots: (S1) 0.6583; (P) 0.6603; (R1) 0.6639; More…

Intraday bias in AUD/USD remains neutral for the moment. Further rise is in favor as long as 55 4H EMA (now at 0.6570) holds. Above 0.6645 will resume the rebound from 0.6361. On the downside, however, firm break of 55 4H EMA will bring deeper fall back to 0.6464 support 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 could 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) 0.6913; (P) 0.6930; (R1) 0.6947; More…

AUD/USD drops to as low as 0.6892 today. 100% projection of 0.7295 to 0.7003 from 0.7205 at 0.6913 was breached but there is no follow through selling yet. Nevertheless, intraday bias remains on the downside for the moment. Sustained trading below 0.6913 should ideally bring downside acceleration to extend the fall from 0.7295 to retest 0.6722 low. On the upside, above 0.6959 minor resistance will turn intraday bias neutral for consolidations. But recovery should be limited by 0.6988/7069 resistance zone to bring fall resumption.

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) 0.6836; (P) 0.6871; (R1) 0.6894; More…

Intraday bias in AUD/USD remains neutral for more consolidations. Further rise in favor with 0.6809 minor support intact. On the upside, break of 0.6929 will resume the rise from 0.6670 to 0.7082 key resistance next. On the downside, however, break of 0.6809 support will suggest that such rebound is completed. Intraday bias will be turned back to the downside for retesting 0.6670 low.

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 0.7529).

Daily Pivots: (S1) 0.7619; (P) 0.7639; (R1) 0.7676; More…

Intraday bias in AUD/USD stays neutral at this point. On the downside, break of 0.7590 minor support will bring retest of 0.7530 low. Break there will resume corrective fall from 0.8006. On the upside, above 0.7676 will resume the rebound from 0.7520 to 0.7848 resistance next.

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) 0.6419; (P) 0.6439; (R1) 0.6462; More…

AUD/USD’s rebound from 0.6356 extends higher today but upside is capped below 0.6520 resistance. Intraday bias stays 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) 0.6508; (P) 0.6540; (R1) 0.6559; More…

Intraday bias in AUD/USD is turned neutral first, with loss of downside momentum. On the downside, decisive break of 0.6457 support will confirm resumption of whole fall from 0.7156. Next target is 100% projection of 0.7156 to 0.6457 from 0.6894 at 0.6195. Nevertheless, firm break of 0.6608 minor resistance will dampen this view, and turn bias back to the upside for stronger rebound.

In the bigger picture, outlook is mixed for now as AUD/USD failed to sustain above both 55 D EMA (now at 0.6686) and 55 W EMA (now at 0.6769). On the upside, break of 0.6894 resistance will solidify the case that down trend from 0.8006 (2021 high) has already completed, and target 0.7156 resistance for confirmation. However, break of 0.6457 will likely resume the down trend through 0.6169 (2022 low).

Daily Pivots: (S1) 0.6958; (P) 0.6986; (R1) 0.7017; More…

Intraday bias in AUD/USD remains on the upside at this point. Sustained trading above 55 day EMA (now at 0.6965) will pave the way to 0.7282 resistance next. On the downside, however, break of 0.6858 minor support will argue that the rebound from 0.6910 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) could still be a corrective pattern to rise from 0.5506 (2020 low). But current downside acceleration, as seen in weekly MACD), 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) 0.6418; (P) 0.6436; (R1) 0.6454; More…

Intraday bias in AUD/USD remains neutral for the momentum. Outlook stays bearish with 0.6520 resistance intact. On the downside, 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.

Daily Pivots: (S1) 0.7311; (P) 0.7325; (R1) 0.7348; More…

AUD/USD could still gyrate lower as decline from 0.7477 is extending. But still, another rise is 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 retesting 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) 0.6432; (P) 0.6508; (R1) 0.6583; More….

A temporary bottom is formed at 0.6433 in AUD/USD with 4 hour MACD crossed above signal line. Intraday bias is turned neutral for consolidations first. Upside of recovery should be limited below 0.6662 support turned resistance to bring fall resumption. On the downside, break of 0.6433 will turn bias to the downside for 161.8% projection of 0.6933 to 0.6662 from 0.6750 at 0.6312.

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) 0.7088; (P) 0.7103; (R1) 0.7118; More…

AUD/USD’s fall from 0.7295 is still in progress and intraday bias stays on the downside. Break of 0.7076 cluster support (38.2% retracement of 0.6722 to 0.7295 at 0.7076) affirms the case that rebound from 0.6722 has completed at 0.7295. Further decline should be seen to 61.8% retracement at 0.6941 next. On the upside, above 0.7139 minor resistance will turn intraday bias neutral first. But risk will remain on the downside as long as 0.7295 resistance holds.

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.

Daily Pivots: (S1) 0.7272; (P) 0.7311; (R1) 0.7347; More…

AUD/USD weakens notably but it’s staying in range of 0.7237/7381. Intraday bias remains neutral and more consolidative trading could be seen. In case of stronger rise through 0.7381 we’d expect upside to be limited by 0.7452 resistance to bring larger down trend resumption eventually. On the downside, below 0.7237 will target a test on 0.7201 low first.

In the bigger picture, rebound from 0.6826 (2016 low) is seen as a corrective move that should be completed at 0.8135. Fall from there would extend to have a test on 0.6826. There is prospect of resuming long term down trend from 1.1079 (2011 high). But we’ll look at downside momentum to assess at a later stage. On the upside, break of 0.7452 resistance, however, will indicate medium term bottoming, on bullish convergence condition in daily MACD. In that case, a correction should be seen first, with stronger rebound would be seen to 38.2% retracement of 0.8135 to 0.7201 at 0.7558. The down trend from 0.8135 will resume after the correction completes.

Daily Pivots: (S1) 0.7067; (P) 0.7102; (R1) 0.7141; More…

Intraday bias in AUD/USD stays on the upside as rise from 0.6680 is in progress. Next target is 100% projection of 0.6680 to 0.7045 from 0.6868 at 0.7233. On the downside, below 0.7062 minor support will turn intraday bias neutral first. But further rally will remain in favor as long as 0.6868 support holds, in case of retreat.

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.

Daily Pivots: (S1) 0.6268; (P) 0.6320; (R1) 0.6353; More…

Intraday bias in AUD/USD remains on the downside for the moment. Current fall from 0.7156 is in progress and should target 100% projection of 0.7156 to 0.6457 from 0.6894 at 0.6195. On the upside, break of 0.6500 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery.

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) 0.7184; (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) 0.6966; (P) 0.6985; (R1) 0.7011; More…

AUD/USD’s break of 0.6988 resistance should confirm short term bottoming at 0.6864, on bullish convergence condition in 4 hour MACD. Also, the decline from 0.7295 could have completed with three waves down to 0.6864 too. Intraday bias now stays on the upside for 0.7069 resistance first. Break will target 0.7205 key resistance next. On the downside, though, break of 0.6938 minor support will turn bias back to the downside for 0.6864 low 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) 0.7141; (P) 0.7185; (R1) 0.7220; More…

Intraday bias in AUD?USD remains on the downside at this point. The corrective rebound from 0.7020 should have completed at 0.7393 already. Deeper fall should be seen back to retest 0.7020 low first. On the upside, break of 0.7246 resistance will delay the bearish case and turn bias back to the upside. Rebound from 0.7020 could probably head to 38.2% retracement of 0.8135 to 0.7020 at 0.7446 before completion.

In the bigger picture, a medium term bottom is in place at 0.7020 ahead of 0.6826 key support (2016 low). Stronger rebound could still be seen to correct the whole fall from 0.8135 high. But we’d expect strong resistance from 0.7500 support turned resistance to limit upside. Medium term fall from 0.8135 should resume later and extend to take on 0.6826 low at a later stage, after the correction from 0.7020 completes.

Daily Pivots: (S1) 0.6410; (P) 0.6460; (R1) 0.6549; More…

Intraday bias in AUD/USD remains mildly 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, below 0.6371 minor support will turn bias back to the downside for retesting 0.6169 low instead.

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) 0.6577; (P) 0.6601; (R1) 0.6626; More…

AUD/USD dips notably today but still stays in range of 0.6524/6639. Intraday bias remains neutral and further fall is still expected. On the downside, firm break of 0.6524 support will argue that whole rebound from 0.6269 has completed, and bring deeper fall to this support. On the upside, however, firm break of 0.6639 will turn bias back to the upside for stronger rebound 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). 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) 0.7125; (P) 0.7149; (R1) 0.7175; More…

Intraday bias in AUD/USD remains neutral first. Risk will stay on the downside as long as 0.7313 resistance holds. Corrective rebound from 0.6992 should have completed there. Below 0.7089 will target 0.6991/2 support zone. Further break there will resume larger down trend from 0.8006, and carries larger bearish implication. Next target will be 100% projection of 0.7555 to 0.6992 from 0.7313 at 0.6750.

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.