AUD/USD dropped to as low as 0.6677 last week and breached 0.6722 low. As a temporary low was formed with subsequent recovery, initial bias is neutral this week for consolidations first. In case of stronger rise, upside should be limited below 0.6910 support turned resistance to bring fall resumption. On the downside, break of 0.6677 will target 100% projections of 0.7295 to 0.6831 from 0.7082 at 0.6618.

In the bigger picture, decline from 0.8135 (2018 high) is seen as resuming the long term down trend from 1.1079 (2011 high). Firm break of 0.6826 (2016 low) should confirm this bearish view. Further fall should be seen to 0.6008 (2008 low) next. 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.

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) 0.6758; (P) 0.6789; (R1) 0.6833; More…

AUD/USD’s recovery from 0.6677 might extend higher. But upside should be limited below 0.6910 support turned resistance to bring fall resumption. On the downside, break of 0.6677 will resume larger down trend to 100% projections of 0.7295 to 0.6831 from 0.7082 at 0.6618.

In the bigger picture, decline from 0.8135 (2018 high) is seen as resuming the long term down trend from 1.1079 (2011 high). Firm break of 0.6826 (2016 low) is confirm this bearish view. Further fall should be seen to 0.6008 (2008 low) next. 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) 0.6697; (P) 0.6740; (R1) 0.6803; More…

AUD/USD recovered after hitting 0.6677 and intraday bias is turned neutral for consolidations first. Upside of recovery should be limited below 0.6910 support turned resistance to bring fall resumption. On the downside, break of 0.6677 will resume larger down trend to 100% projections of 0.7295 to 0.6831 from 0.7082 at 0.6618.

In the bigger picture, decline from 0.8135 (2018 high) is seen as resuming the long term down trend from 1.1079 (2011 high). Firm break of 0.6826 (2016 low) is confirm this bearish view. Further fall should be seen to 0.6008 (2008 low) next. 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) 0.6739; (P) 0.6770; (R1) 0.6790; More…

AUD/USD’s decline resumes after brief consolidation and hits as low as 0.6677 so far. Intraday bias is back on the downside. With 0.6722 support broken, larger down trend has also resumed. Next near term target is 100% projections of 0.7295 to 0.6831 from 0.7082 at 0.6618. On the upside, break of 0.6800 minor resistance will turn intraday bias neutral again for consolidations.

In the bigger picture, decline from 0.8135 (2018 high) is seen as resuming the long term down trend from 1.1079 (2011 high). Firm break of 0.6826 (2016 low) is confirm this bearish view. Further fall should be seen to 0.6008 (2008 low) next. 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) 0.6735; (P) 0.6770; (R1) 0.6791; More…

A temporary low is formed at 0.6748 in AUD/USD with 4 hour MACD crossed above signal line. Intraday bias is turned neutral for some consolidations. Upside of recovery should be limited by 0.6899 minor resistance to bring fall resumption. On the downside break of 0.6748 will target 0.6722 low first. Break will target 100% projections of 0.7295 to 0.6831 from 0.7082 at 0.6618 next.

In the bigger picture, medium term outlook remains bearish. . The decline from 0.8135 (2018 high) is seen as resuming the long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 (2016 low) will confirm this bearish view and resume target 0.6008 (2008 low). However, firm break of 0.7295 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) 0.6770; (P) 0.6795; (R1) 0.6825; More…

Intraday bias in AUD/USD remains on the downside for 0.6722 low first. Break will target 100% projections of 0.7295 to 0.6831 from 0.7082 at 0.6618 next. On the upside, above 0.6828 minor resistance will turn intraday bias neutral and bring consolidations. But recovery should be limited well below 0.7082 resistance to bring fall resumption.

In the bigger picture, medium term outlook remains bearish. . The decline from 0.8135 (2018 high) is seen as resuming the long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 (2016 low) will confirm this bearish view and resume target 0.6008 (2008 low). However, firm break of 0.7295 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 break of 0.6831 support last week confirmed resumption of fall from 0.7295. Initial bias stays on the downside this week for 0.6722 low first. Break will target 100% projections of 0.7295 to 0.6831 from 0.7082 at 0.6618 next. On the upside, above 0.6868 minor resistance will turn intraday bias neutral and bring consolidations. But recovery should be limited well below 0.7082 resistance to bring fall resumption.

In the bigger picture, medium term outlook remains bearish. . The decline from 0.8135 (2018 high) is seen as resuming the long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 (2016 low) will confirm this bearish view and resume target 0.6008 (2008 low). However, firm break of 0.7295 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) 0.6776; (P) 0.6822; (R1) 0.6848; More…

Intraday bias in AUD/USD remains on the downside at this point. Fall from 0.7082 is part o the decline from 0.7295. Next target is 0.6722 low. On the upside, above 0.6868 minor resistance will turn intraday bias neutral and bring consolidation again 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.

Daily Pivots: (S1) 0.6820; (P) 0.6859; (R1) 0.6887; More…

AUD/USD’s decline resumed after brief consolidation and breached 0.6831 low. Intraday bias is back on the downside. Sustained trading below 0.6831 will extend the fall from 0.7295 to retest 0.6722 low. On the upside, above 0.6899 minor resistance will turn intraday bias neutral again.

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) 0.6859; (P) 0.6884; (R1) 0.6898; More…

A temporary low is in place at 0.6862 with today’s recovery. Intraday bias is turned neutral for consolidations. Upside should be limited well below 0.7082 resistance to bring fall resumption. On the downside, below 0.6862 will target 0.6831 low first. Break of 0.6831 will extend the fall from 0.7295 and target 0.6722 low 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) 0.6892; (P) 0.6904; (R1) 0.6914; More…

AUD/USD’s fall extends to as low as 0.6869 so far and intraday bias remains on the downside for 0.6831 low. The three wave corrective structure from 0.6831 to 0.7082 suggests that larger decline from 0.7295 is in progress and is possibly resuming. Break of 0.6831 will confirm this bearish case and target 0.6722 low next. On the upside, break of 0.6909 minor resistance will turn intraday bias neutral again.

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) 0.6892; (P) 0.6904; (R1) 0.6914; More…

No change in AUD/USD’s outlook. Corrective rebound from 0.6831 should have completed at 0.7082 already. The three wave corrective structure suggests that larger decline from 0.7295 is in progress and is possibly resuming. Further fall should be seen back to 0.6831 support first. Break will confirm and target 0.6722 low next. On the upside, break of 0.6955 minor resistance will turn intraday bias neutral again.

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) 0.6891; (P) 0.6923; (R1) 0.6943; More…

Intraday bias in AUD/USD remains on the downside for the moment. Rebound from 0.6831 should have completed at 0.7082 already. The three wave corrective structure suggests that larger decline from 0.7295 is in progress and is possibly resuming. Further fall should be seen back to 0.6831 support first. Break will confirm and target 0.6722 low next. On the upside, break of 0.6955 minor resistance will turn intraday bias neutral again.

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 sharp decline and break of 0.6910 support last week suggests that rebound from 0.6831 has completed at 0.7082 already. The three wave corrective structure suggests that larger decline from 0.7295 is in progress and is possibly resuming. Initial bias stays on the downside this week for 0.6831 support first. Break will confirm and target 0.6722 low next. On the upside, break of 0.6955 minor resistance will turn intraday bias neutral again.

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) 0.6935; (P) 0.6960; (R1) 0.6977; More…

Intraday bias in AUD/USD remains on the downside for 0.6910 support. Break will confirm that rebound from 0.6831 has completed with three waves up to 0.7082. Such development will also argue that fall from 0.7295 is in progress for 0.6722 low. On the upside, above 0.6991 minor resistance will turn intraday bias neutral 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.

Daily Pivots: (S1) 0.6966; (P) 0.6986; (R1) 0.6999; More…

Intraday bias in AUD/USD remains mildly on the downside at this point. Rebound from 0.6831 should have completed with three waves up to 0.7082. Break of 0.6910 support will confirm and pave the way back to retest 0.6831 support next. Such development will also argue that fall from 0.7295 is in progress for 0.6722 low. On the upside, above 0.7008 minor resistance will turn intraday bias neutral 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.

Daily Pivots: (S1) 0.6989; (P) 0.7012; (R1) 0.7029; More…

AUD/USD’s sharp fall and break of 0.6996 minor support suggests that rebound from 0.6831 has completed with three waves up to 0.7082. Intraday bias is turned back to the downside for 0.6910 support first. Break will confirm and pave the way back to retest 0.6831 support next. Such development will also argue that fall from 0.7295 is in progress for 0.6722 low. On the upside, break of 0.7082 will extend the rebound from 0.6831 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) 0.7026; (P) 0.7054; (R1) 0.7070; More…

Intraday bias in AUD/USD stays neutral at this point. Further rise remains in favor with 0.6996 minor support intact. Break of 0.7082 will target 100% projection of 0.6831 to 0.7047 from 0.6910 at 0.7126. Sustained break there will indicate solid upside momentum for 0.7205 resistance next. On the downside, break of 0.6996 will suggest that the rebound has completed and turn bias to the downside for 0.6910 support 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) 0.7026; (P) 0.7054; (R1) 0.7070; More…

Intraday bias in AUD/USD remains neutral for the moment. Further rise is expected with 0.6996 minor support intact. Break of 0.7082 will target 100% projection of 0.6831 to 0.7047 from 0.6910 at 0.7126. Sustained break there will indicate solid upside momentum for 0.7205 resistance next. On the downside, break of 0.6996 will suggest that the rebound has completed and turn bias to the downside for 0.6910 support 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’s rise from 0.6831 resumed last week by breaking 0.7047 resistance to 0.7082. As a temporary top was formed, initial bias is neutral this week first. Further rally is expected as long as 0.6996 minor support holds. Break ow 0.7082 will target 100% projection of 0.6831 to 0.7047 from 0.6910 at 0.7126. Sustained break there will indicate solid upside momentum for 0.7205 resistance next. On the downside, break of 0.6996 will suggest that the rebound has completed and turn bias to the downside for 0.6910 support 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.

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.