Daily Pivots: (S1) 0.6963; (P) 0.6978; (R1) 0.6990; More…

Intraday bias in AUD/USD remains neutral with focus on 0.6956 minor support. Firm break there will indicate completion of the rebound from 0.6831. Intraday bias will be turned back to the downside for retesting 0.6831 low. On the upside, above 0.7047 will resume the rebound to 61.8% retracement of 0.7295 to 0.6831 at 0.7118.

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) 0.6948; (P) 0.6989; (R1) 0.7020; More…

AUD/USD recovers ahead of 0.6956 minor support and intraday bias remains neutral first. On the upside, break of 0.7047 will resume the rebound from 0.6831 to 61.8% retracement of 0.7295 to 0.6831 at 0.7118. Sustained break will 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.

AUD/USD edged higher to 0.7047 last week but dropped sharply since then. Yet, as downside is contained above 0.6956 support, initial bias is neutral this week first. On the upside, break of 0.7047 will resume the rebound from 0.6831 to 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.

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) 0.7010; (P) 0.7029; (R1) 0.7042; More…

AUD/USD is losing upside momentum again as seen in 4 hour MACD. But further rise is expected as long as 0.6956 support holds. Rebound from 0.6831 could extend to 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) 0.6998; (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) 0.6971; (P) 0.6986; (R1) 0.7009; More…

Intraday bias in AUD/USD remains neutral at this point. 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) 0.6937; (P) 0.6984; (R1) 0.7012; More…

AUD/USD recovered ahead of 0.6941 support but stays below 0.7034 temporary top. Intraday bias remains neutral first and outlook is unchanged. 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) 0.6937; (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) 0.7005; (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.

AUD/USD’s rebound from 0.6831 extended higher last week and is now pressing 0.7022 resistance. At this point, we’d still expect rejection from 0.7022 to complete the rebound. 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.

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) 0.6991; (P) 0.7000; (R1) 0.7018; More…

Outlook in AUD/USD remains unchanged. We’d still expect strong resistance from 0.7022 to limit upside to complete corrective rise from 0.6813. On the downside, below 0.6941 minor support will turn bias to the downside for retesting 0.6831 low first. Break there will resume the decline from 0.7295 to 0.6722 low next. However, firm break of 0.7022 will indicate near term reversal and turn outlook bullish for 0.7205 resistance 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) 0.6960; (P) 0.6977; (R1) 0.7003; More…

While the corrective rise from 0.6831 could extend higher, upside should be limited by 0.7022 resistance to bring fall resumption. On the downside, below 0.6937 minor support will turn bias to the downside for retesting 0.6831 low first. Break there will resume the decline from 0.7295 to 0.6722 low next. However, firm break of 0.7022 will indicate near term reversal and turn outlook bullish for 0.7205 resistance 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) 0.6942; (P) 0.6961; (R1) 0.6979; More…

AUD/USD’s corrective rebound from 0.6831 is still in progress and might extend higher. But upside should be limited by 0.7022 resistance to bring fall resumption. On the downside, below 0.6903 minor support will turn bias to the downside for retesting 0.6831 low first. Break there will resume the decline from 0.7295 to 0.6722 low next. However, firm break of 0.7022 will indicate near term reversal and turn outlook bullish for 0.7205 resistance 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) 0.6938; (P) 0.6954; (R1) 0.6978; More…

Intraday bias in AUD/USD remains mildly on the upside and corrective rebound from 0.6831 might extend higher. But upside should be limited by 0.7022 resistance to bring fall resumption. On the downside, below 0.6903 minor support will turn bias to the downside for retesting 0.6831 low first. Break there will resume the decline from 0.7295 to 0.6722 low next. However, firm break of 0.7022 will indicate near term reversal and turn outlook bullish for 0.7205 resistance 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) 0.6907; (P) 0.6922; (R1) 0.6942; More…

AUD/USD’s correctively recovery from 0.6831 might extend higher. But upside should be limited by 0.7022 resistance to bring fall resumption. On the downside, below 0.6903 minor support will turn bias to the downside for retesting 0.6831 low first. Break there will resume the decline from 0.7295 to 0.6722 low next. However, firm break of 0.7022 will indicate near term reversal and turn outlook bullish for 0.7205 resistance 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.

AUD/USD edged lower to 0.6831 last week but recovered since then. Initial bias is neutral this week first. We’d expect upside to be limited by 0.7022 resistance to bring fall resumption. On the downside, break of 0.6831 will resume the decline from 0.7295 to 0.6722 low next. 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.

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) 0.6890; (P) 0.6913; (R1) 0.6947; More…

Outlook in AUD/USD remains unchanged at this point. While further recovery cannot be ruled out, 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. Nevertheless, 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) 0.6857; (P) 0.6883; (R1) 0.6911; More…

AUD/USD’s recovery from 0.6831 extends higher today. While further rise cannot be ruled out, 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. Nevertheless, 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) 0.6845; (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) 0.6839; (P) 0.6862; (R1) 0.6876; More…

AUD/USD drops further to as low as 0683 so far today as decline from 0.7295 is extending. Intraday bias stays the downside for retesting 0.6722 low next. On the upside, above 0.6884 minor resistance will turn intraday bias neutral and bring consolidations. But recovery should be limited well below 0.7022 resistance 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.