Daily Pivots: (S1) 0.6925; (P) 0.6978; (R1) 0.7046; More…

Intraday bias in AUD/USD remains neutral at this point. On the upside, break of 0.7030 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) 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) 0.6677; (P) 0.6697; (R1) 0.6733; More…

Intraday bias in AUD/USD stays neutral as range trading continues. Deeper decline is in favor as long as 0.6758 resistance holds. On the downside, decisive break of 0.6546 fibonacci level will carry larger bearish implication. On the upside, however, break of 0.6758 resistance will now be a strong signal of bullish reversal and turn bias back to the upside.

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) 0.7077; (P) 0.7091; (R1) 0.7110; More…

AUD/USD rebounds strongly today but stays in range below 0.7168. Intraday bias remains neutral first. On the upside, break of 0.7168 will resume the rise from 0.7003 and turn bias to the upside for 0.7295 resistance. Break will extend the whole rebound from 0.6722 to 0.7393 key resistance level. On the downside, though, break of 0.7056 minor support will turn bias to the downside for 0.7003 first. Break will resume the whole decline from 0.7295.

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) 0.6867; (P) 0.6887; (R1) 0.6906; More…

AUD/USD is staying in consolidation from 0.6929 and intraday bias remains neutral first. 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) 0.7155; (P) 0.7193; (R1) 0.7213; More…

Intraday bias in AUD/USD remains neutral for the moment. On the upside, above 0.7313 will resume the rebound from 0.6992 to 0.7555 resistance. However, break of 0.7128 support will bring retest of 0.6991/2 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) 0.7005; (P) 0.7014; (R1) 0.7032; More…

AUD/USD edged higher to 0.7034 but quickly dropped back to below 0.7022 resistance. At this point, we’d still expect rejection from 0.7022 to complete the rebound from 0.6831. On the downside, break of 0.6941 minor support will turn bias back to the downside for retesting 0.6831 low. However, firm break of 0.7022 will indicate near term bullish reversal and turn outlook bullish for 0.7205 resistance next.

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) 0.6243; (P) 0.6295; (R1) 0.6336; More…

Intraday bias in AUD/USD remains neutral first. With 0.6213 support intact, further rise is mildly in favor. On the upside, break of 0.6444 will extend the rebound from 0.5506 to 100% projection of 0.5506 to 0.6213 from 0.5979 at 0.6686, which is close to 0.6684 key resistance. On the downside, break of 0.6213 resistance turned support will argue that such rebound has completed. Intraday bias will be turned back to the downside for 0.5979 support for confirmation.

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, break of 0.6670 support turned resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish even in case of strong rebound.

Daily Pivots: (S1) 0.7783; (P) 0.7822; (R1) 0.7884; More…

Intraday bias in AUD/USD remains on the upside at this point. Current rise form 0.7503 should target a test on 0.8006 next. Break will resume larger up trend. For now, near term outlook will remain cautiously bullish as long as 0.7673 support holds, in case of retreat.

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) 0.6845; (P) 0.6863; (R1) 0.6895; More…

A temporary low is formed at 0.6831 in AUD/USD and intraday bias is turned neutral. Some consolidations could be seen but upside should be limited below 0.7022 resistance to bring fall resumption. On the downside, below 0.6831 will extend the decline from 0.7295 to retest 0.6722 low.

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) 0.6929; (P) 0.6979; (R1) 0.7036; More…

AUD/USD edged higher to 0.7028 but quickly retreated. Intraday bias remains neutral first. On the downside, break of 0.6854 will resume the correction from 0.7156 to 38.2% retracement of 0.6169 to 0.7156 at 0.6779. On the upside, break of 0.7028 will turn bias back to the upside for retesting 0.7156 high instead.

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) 0.7862; (P) 0.7928; (R1) 0.7967; More…

AUD/USD reversed again after hitting 0.7995 and intraday bias is turned neutral. Near term outlook is unchanged. Price actions from 0.8065 are developing into a consolidation pattern. In case of another fall, downside should be contained by 0.7785 cluster support (38.2% retracement of 0.7328 to 0.8065 at 0.7783) to bring rebound. Firm break of 0.8065 will confirm rally resumption for 100% projection of 0.6826 to 0.7833 from 0.7328 at 0.8335.

In the bigger picture, rise from 0.6826 medium term bottom is still in progress. At this point, there is no confirmation of trend reversal yet and we’ll continue to treat such rebound as a corrective pattern. But in any case, break of 55 month EMA (now at 0.8097) will target 38.2% retracement of 1.1079 to 0.6826 at 0.8451. Break of 0.7328 support is needed to confirm completion of the rebound. Otherwise, further rise is now in favor.

Daily Pivots: (S1) 0.6937; (P) 0.6984; (R1) 0.7012; More…

No change in AUD/USD and intraday bias remains neutral. We’re still viewing the rebound from 0.6831 as a correction. And, upside should be limited by 0.7022 resistance. On the downside, break of 0.6941 minor support will turn bias back to the downside for retesting 0.6831 low. However, firm break of 0.7022 will indicate near term bullish reversal and turn outlook bullish for 0.7205 resistance next.

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) 0.6657; (P) 0.6698; (R1) 0.6725; More…

AUD/USD’s breach of 0.6758 suggests that rebound from 0.6563 short term bottom is resuming. Intraday bias is back on the upside for 38.2% retracement of 0.7156 to 0.6563 at 0.6790. Break will target 61.8% retracement at 0.6929. However, break of 0.6650 support will turn bias back to the downside for 0.6563 low again.

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) 0.7125; (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.

Daily Pivots: (S1) 0.6706; (P) 0.6753; (R1) 0.6788; More…

AUD/USD is staying in range of 0.6628/6892 and intraday bias remains neutral first. On the downside, sustained break of 38.2% retracement of 0.6169 to 0.6892 at 0.6616 will indicate rejection by 0.66871 fibonacci level. Deeper fall should then be seen to 61.8% retracement at 0.6445. On the upside, break of 0.6892 will resume the rally from 0.6169.

In the bigger picture, it’s still unsure if price actions from 0.6169 medium term bottom are developing into a corrective pattern or trend reversal. Rejection by 38.2% retracement of 0.8006 to 0.6169 at 0.6871 will maintain medium term bearishness for another fall through 0.6169 at a later stage. However, firm break of 0.6871, and sustained trading above 55 week EMA (now at 0.6896) will raise the chance of the start of a bullish up trend.

Daily Pivots: (S1) 0.7038; (P) 0.7058; (R1) 0.7089; More…

AUD/USD is staying in consolidation from 0.7003 temporary low. Intraday bias remains neutral first. Stronger recovery cannot be ruled out. But upside should be limited by 0.7121 resistance to bring fall resumption. On the downside, below 0.7003 will target 61.8% retracement of 0.6722 to 0.7295 at 0.6941 and below.

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) 0.6719; (P) 0.6743; (R1) 0.6755; More…

AUD/USD’s recovery from 0.6677 is in progress. Further rise could be seen. But upside should be limited by 0.6894 resistance. On the downside, firm break of 0.6670/7 will confirm larger down trend resumption.

In the bigger picture, decline from 0.8135 (2018 high) is seen as resuming the long term down trend from 1.1079 (2011 high). Next target is 0.6008 (2008 low). 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) 0.7391; (P) 0.7403; (R1) 0.7419; More…

AUD/USD is staying in consolidation from 0.7309 and intraday bias remains neutral. On the upside, above 0.7483 resistance will bring stronger rebound. But upside should be limited below 0.7676 resistance to bring larger fall resumption eventually. On the downside, break of 0.7309 and sustained trading below 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) 0.6998; (P) 0.7019; (R1) 0.7051; More…

AUD/USD’s rebound from 0.6831 resumed by breaking 0.7034 temporary top. Current development confirmed short term bottoming at 0.6831. Intraday bias is turned back to the upside for 61.8% retracement of 0.7295 to 0.6831 at 0.7118 first. Sustained break till target 0.7295 resistance next. On the downside, break of 0.6956 support, however, will indicate completion of the rebound. Intraday bias will be turned back to the downside for retesting 0.6831 low.

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) 0.6352; (P) 0.6447; (R1) 0.6503; More…

Intraday bias in AUD/USD remains neutral as consolidation from 0.6362 could extend. Another recovery cannot be ruled out, but upside should be limited well below 0.6698 support turned resistance. Break of 0.6362 will resume larger down trend to 100% projection of 0.7660 to 0.6680 from 0.7135 at 0.6155.

In the bigger picture, down trend form 0.8006 (2021 high) is expected to continue as long as 0.7135 resistance holds. With 61.8% retracement of 0.5506 (2020 low) to 0.8006 at 0.6461 firmly taken out, next target is 0.5506 low. Medium term momentum will now be closely monitored to gauge the chance of break of 0.5506.