Daily Pivots: (S1) 0.7036; (P) 0.7072; (R1) 0.7094; More…

AUD/USD is staying in range of 0.7020/7159 and intraday bias remains neutral first. As long as 0.7159 resistance holds, near term outlook will remain bearish and further decline is expected. Break of 0.7020 extend the down trend from 0.8135 towards 0.6826 low. However, firm break of 0.7159 will be a first sign of trend reversal, on bullish convergence condition in 4 hour MACD, and turn bias back to the upside for 0.7314 resistance.

In the bigger picture, 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). On the upside, break of 0.7314 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook stays bearish even in case of strong rebound.

Daily Pivots: (S1) 0.6877; (P) 0.6955; (R1) 0.6996; More…

Intraday bias in AUD/USD stays neutral for the moment. On the upside, break of 0.7045 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) 0.6514; (P) 0.6580; (R1) 0.6649; More….

AUD/USD is staying in corrective recovery from 0.6433 short term bottom and outlook is unchanged. We’d expect strong resistance by 0.6662 cluster resistance (38.2% retracement from 0.7031 to 0.6433 at 0.6661) to limit upside. Break of 0.6509 minor support will turn bias to the downside for retesting 0.6433 low. Nevertheless, break of 0.6662 will bring stronger corrective rise to 61.8% retracement at 0.6803.

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) 0.6206; (P) 0.6261; (R1) 0.6352; More…

In temporary low is formed at 0.6169 in AUD/USD, just ahead of 100% projection of 0.7660 to 0.6680 from 0.7135 at 0.6155. Intraday bias is turned neutral first but outlook will stay bearish as long as 0.6539 resistance holds. Firm break of 0.6155 will target 138.2% projection at 0.5781. Nevertheless, firm break of 0.6539 will confirm short term bottoming and bring stronger rebound.

In the bigger picture, down trend form 0.8006 (2021 high) is expected to continue as long as 0.6680 support turned resistance holds. Next target is 0.5506 low. Medium term momentum will now be closely monitored to gauge the chance of break of 0.5506.

Daily Pivots: (S1) 0.7067; (P) 0.7106; (R1) 0.7175; More…

Intraday bias in AUD/USD is break on the upside with break of 0.7141 resistance. Current up trend from 0.6169 should now target 0.7304 fibonacci level. On the downside, break of 0.6982 support is needed to indicate short term topping. Otherwise, outlook will stay bullish in case of retreat.

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) 0.6718; (P) 0.6746; (R1) 0.6779; More…

Intraday bias in AUD/USD is turned neutral with current recovery. On the upside, decisive break of 0.6680 low will resume larger down trend. Next target is long term fibonacci level at 0.6461. On the upside, break of 0.6855 support turned resistance will turn bias back to the upside for 0.7008 resistance instead.

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 also 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) 0.7620; (P) 0.7687; (R1) 0.7728; More…

AUD/USD’s break of 0.7673 support suggests that rebound from 0.7530 has completed at 0.7890 already. More importantly, corrective pattern from 0.8006 high should now be in it’s third leg. Intraday bias is back on the downside for 0.7530 support first. Break there will target 100% projection of 0.8006 to 0.7530 from 0.7890 at 0.7414. We’d expect strong support from there, which coincides with 0.7413 key resistance turned support, to bring reversal.

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) 0.7065; (P) 0.7084; (R1) 0.7115; More…

AUD/USD’s strong recovery and break of 0.7107 minor resistance suggests temporary bottoming at 0.7054. Intraday bias is turned neutral for consolidations. Stronger rise might be seen, but upside should be limited by 0.7295 resistance to bring another fall. We’re holding on to the view that rebound from 0.6722 has completed at 0.7295 already. On the downside, break of 0.7054 will turn bias to the downside for 61.8% retracement of 0.6722 to 0.7295 at 0.6941 next.

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) 0.7916; (P) 0.7951; (R1) 0.7994; More…

Intraday bias in AUD/USD remains neutral for the moment as consolidation from 0.8124 continues. With 0.7807 support intact, outlook stays bullish for another rally. Above 0.8124 will target 100% projection of 0.6826 to 0.7833 from 0.7328 at 0.8335 next. However, considering bearish divergence condition in daily MACD, firm break of 0.7807 will indicate near term reversal and turn bias back to the downside for 0.7328 key support.

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 0.8090) will target 38.2% retracement of 1.1079 to 0.6826 at 0.8451. Break of 0.7807 support is needed to to be the first sign of completion of the rebound. Otherwise, further rise is now in favor.

Daily Pivots: (S1) 0.6602; (P) 0.6635; (R1) 0.6657; More…

Intraday bias in AUD/USD is turned neutral first with current retreat. Another rise will be mildly in favor as long as 55 4H EMA (now at 0.6561) holds. Above 0.6666 will resume the rebound from 0.6442 to 61.8% retracement of 0.6877 to 0.6442 at 0.6707 next. Sustained trading above there will argue rise from 0.6442 is probably resuming whole rally from 0.6269. Nevertheless, sustained break of 55 4H EMA will revive near term bearishness and bring retest of 0.6442 low 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 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) 0.6998; (P) 0.7060; (R1) 0.7095; More…

Intraday bias in AUD/USD remains on the downside for retesting 0.6991/2 support zone. Sustained 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. On the upside, break of 0.7098 minor resistance will mix up the near term outlook and turn intraday bias neutral first.

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) 0.7780; (P) 0.7809; (R1) 0.7826; More…

AUD/USD’s rise resumed after brief consolidation and reaches as high as 0.7903 so far. The break of near term channel resistance indicates upside acceleration. Intraday bias stays on the upside for 61.8% projection of 0.6826 to 0.7833 from 0.7328 at 0.7950 next. Break there will target 100% projection at 0.8335. On the downside, below 0.7785 will turn intraday bias neutral and bring consolidations before staging another rally.

In the bigger picture, current development suggests that rebound from 0.6826 is developing into a medium term rise. There is no confirmation of trend reversal yet and we’ll continue to treat such rebound as a corrective pattern. But in any case, further rise is now expected to 55 month EMA (now at 0.8100) or even further to 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 expected.

Daily Pivots: (S1) 0.7821; (P) 0.7857; (R1) 0.7889; More…

Intraday bias in AUD/USD remains neutral at this point. On the downside, below 0.7758 will resume the fall from 0.8135 and target 0.7500 key near term support. On the upside, above 0.7988 will extend the rebound to retest 0.8135. so far, there is no sign of range breakout yet and 0.7500/8135 could hold for a while.

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) 0.7009; (P) 0.7074; (R1) 0.7109; More…

AUD/USD’s rebound from 0.6828 should have completed at 0.7282 already. Intraday bias is now back on the downside for 0.6828 support first. Firm break there will resume larger fall from 0.8006 to 0.6756/60 cluster support. On the upside, above 0.7137 minor resistance will turn bias back to the upside for 0.7282 instead.

In the bigger picture, price actions from 0.8006 are seen as a corrective pattern to rise from 0.5506 (2020 low). Deeper fall could still be seen to 50% retracement of 0.5506 to 0.8006 at 0.6756. This coincides with 100% projection of 0.8006 to 0.7105 from 0.7660 at 0.6760. Strong support is expected from 0.6756/60 cluster to contain downside to complete the correction. Meanwhile, firm break of 0.7660 resistance will confirm that such corrective pattern has completed, and larger up trend is ready to resume.

Daily Pivots: (S1) 0.6753; (P) 0.6790; (R1) 0.6817; More…

Intraday bias in AUD/USD is staying neutral at this point. Strong support could still be seen from 0.6756/60 cluster support to complete the whole correction from 0.8006, and 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.

Daily Pivots: (S1) 0.7921; (P) 0.7940; (R1) 0.7971; More…

AUD/USD edges higher to 0.7988 and hit target of 61.8% projection of 0.6826 to 0.7833 from 0.7328 at 0.7950. The pair is losing some upside momentum as seen in 4 hour MACD. But intraday bias stays on the upside with 0.7908 minor support intact. Sustained trading above 0.7950 will pave the way to 100% projection at 0.8335 next. On the downside, below 0.7908 will turn intraday bias neutral and bring pull back. But downside should be contained by 0.7711 resistance turned support to bring rally resumption.

In the bigger picture, current development suggests that rebound from 0.6826 is developing into a medium term rise. There is no confirmation of trend reversal yet and we’ll continue to treat such rebound as a corrective pattern. But in any case, further rise is now expected to 55 month EMA (now at 0.8100) or even further to 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 expected.

Daily Pivots: (S1) 0.7765; (P) 0.7789; (R1) 0.7815; More…

Intraday bias in AUD/USD remains neutral as range trading continues. With 0.7673 support intact, further rise is in favor. On the upside, above 0.7890 will resume the rally from 0.7530 to retest 0.8006 high. However, firm break of 0.7673 support should extend the correction from 0.8006 with another falling leg. Intraday bias will be turned back to the downside for 0.7530 support and possibly below.

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) 0.6696; (P) 0.6747; (R1) 0.6808; More…

AUD/USD’s rise from 0.6169 is in progress and intraday bias stays on the upside. Next target is 161.8% projection of 0.6169 to 0.6521 from 0.6271 at 0.6841. On the downside, below 0.6662 minor support will turn intraday bias neutral and bring consolidations, before staging another rally.

In the bigger picture, the break of 0.6680 support turned resistance confirms medium term bottoming at 0.6169. It’s too early to call for trend reversal. But even as a corrective move, rise from 0.6169 should target 38.2% retracement of 0.8006 to 0.6169 at 0.6871. Sustained trading above 55 week EMA (now at 0.6934) will raise the chance of the start of a bullish up trend. This week now remain the favored case as long as 0.6521 resistance turned support holds.

Daily Pivots: (S1) 0.6849; (P) 0.6884; (R1) 0.6907; More…

Intraday bias in AUD/USD remains on the downside at this point. Fall from 0.7295 is resuming and further fall should be seen back to 0.6722 low. On the upside, break of 0.6918 will delay the bearish case and turn intraday bias neutral for more consolidation first.

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 consolidation pattern from 0.7288 extended last week and outlook is unchanged. Initial bias stays neutral this week for some more sideway trading first. As long as 0.7443 resistance holds, outlook stays bearish for further decline. On the downside, break of 0.7288 will resume the fall from 0.8006 to 161.8% projection of 0.8006 to 0.7530 from 0.7890 at 0.7120 next. On the upside, break of 0.7443 will bring stronger rebound to 0.7530 support turned resistance instead.

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.

In the longer term picture, rise from 0.5506 could have completed at 0.8006. But subsequent fall is now seen as a correction only. As long as 0.6991 structural support holds, we’d expect another rise through 0.8006 at a later stage. However, sustained break of 0.6991 would argue that the trend has reversed and put 0.5506 low back into radar.