Daily Pivots: (S1) 0.7226; (P) 0.7271; (R1) 0.7306; More…

Intraday bias in AUD/USD remains neutral for consolidation above 0.7219 temporary low. On the downside, below 0.7219 will resume the fall from 0.7477 to retest 0.7105 low. Firm break there will resume whole decline from 0.8006 for 0.6991 support next. On the upside, above 0.7320 minor resistance will turn bias back to the upside for 0.7477 resistance 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 from 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) 0.7736; (P) 0.7761; (R1) 0.7809; More…

Intraday bias in AUD/USD remains neutral for the moment and some more consolidations could be seen. 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) 0.6503; (P) 0.6524; (R1) 0.6552; More…

Intraday bias in AUD/USD remains neutral and more consolidations would be seen above 0.6442 first. Stronger recovery cannot be ruled out, but outlook will remain bearish as long as 0.6621 resistance holds. Break of 0.6642 will resume the decline from 0.6870 towards 0.6269 low.

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) 0.6845; (P) 0.6864; (R1) 0.6877; More…

Intraday bias in AUD/USD remains neutral at this point and outlook is unchanged. While rebound from 0.6677 might extend, we’d continue to expect strong resistance from 0.6894 resistance to limit upside to bring down trend resumption. On the downside, below 0.6810 minor support will turn bias back to the downside for 0.6723. Break will bring retest of 0.6670 low. However, firm break of 0.6894 will dampen our bearish view and turn focus back to 0.7082 key resistance.

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) 0.6724; (P) 0.6752; (R1) 0.6784; More…

Intraday bias in AUD/USD remains neutral for the moment. Outlook is unchanged too. Further rise is expected as long as 0.6521 resistance turned support holds. On the upside, break of 0.6796 will resume the rise from 0.6169 to 0.6871 fibonacci level. However, sustained break of 0.6521 will argue that whole rebound from 0.6169 is over, and bring deeper fall to retest this low.

In the bigger picture, a medium term bottom is in place at 0.6160 already. But it’s too early to call for trend reversal. Nevertheless, 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 0.6927) will raise the chance of the start of a bullish up trend. This will now remain the favored case as long as 0.6521 resistance turned support holds.

Daily Pivots: (S1) 0.7142; (P) 0.7162; (R1) 0.7184; More…

AUD/USD’s sharp decline today suggests that recovery from 0.7054 has completed at 0.7206 already. Intraday bias is cautiously back on the downside for 0.7054 support first. Decisive break there will complete a head and shoulder term pattern (ls: 0.7235, h: 0.7295, rs: 0.7206). That should confirm completion of rebound from 0.6722. Further decline should be seen to 61.8% retracement of 0.6722 to 0.7295 at 0.6941 next. On the upside, though, break of 0.7206 will turn focus back to 0.7295 resistance instead.

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) 0.6584; (P) 0.6611; (R1) 0.6631; More…

Intraday bias in AUD/USD remains on the downside despite some loss of downside momentum. Consolidation pattern from 0.6563 should have completed at 0.6804, and larger decline from 0.7156 is ready to resume. Firm break of 0.6563 will bring deeper decline through 0.6546 fibonacci level to 61.8% projection of 0.7156 to 0.6563 from 0.6804 at 0.6438 next. On the upside, though, above 0.6664 minor resistance will delay the bearish case and turn intraday bias neutral first.

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) 0.6971; (P) 0.7020; (R1) 0.7096; More…

Intraday bias in AUD/USD stays neutral and outlook remains bearish as with 0.7282 resistance intact. On the downside, firm break of 0.6828 support will resume larger fall from 0.8006. Next target is 0.6756/60 cluster support. However, firm break of 0.7282 will be a sign of bullish reversal and bring stronger rebound to 0.7666 resistance.

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) 0.6314; (P) 0.6330; (R1) 0.6358; More…

Intraday bias in AUD/USD remains neutral as range trading continues. Outlook remains bearish with 0.6444 resistance intact. On the downside, decisive break of 0.6284 will confirm resumption of whole decline from 0.7156. Next target is 100% projection of 0.7156 to 0.6457 from 0.6894 at 0.6195, which is close to 0.6169 medium term support. Nevertheless, firm break of 0.6444 will confirm short term bottoming, and turn bias to the upside for stronger rebound.

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) 0.6723; (P) 0.6743; (R1) 0.6752; More…

AUD/USD drops notably today but stays in range of 0.6677/6823. Intraday bias remains neutral for the moment. On the upside, break of 0.6822 will extend the rebound from 0.6677. But 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.

Daily Pivots: (S1) 0.7872; (P) 0.7915; (R1) 0.7956; More…

AUD/USD recovers mildly today but stays below 0.7988 temporary top. Intraday bias remains neutral as consolidation from there might extend. Another fall cannot be ruled out. But near term outlook will remain bullish as long as 0.7785 support holds and another rise is expected. Break of 0.7988 will target 100% projection of 0.6826 to 0.7833 from 0.7328 at 0.8335 next. However, break of 0.7785 will argue that deeper pull back in under way and could target 55 day EMA (now at 0.7640).

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) 0.6358; (P) 0.6386; (R1) 0.6406; More…

AUD/USD’s recovery from 0.6356 extends higher today but stays well below 0.6520 resistance. Intraday bias remains 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) 0.7045; (P) 0.7101; (R1) 0.7134; More…

Intraday bias in AUD/USD is turned neutral again as it retreated after hitting 0.7156. On the upside, break of 0.7156 will resume the up trend from 0.6169 to 0.7304 fibonacci level. On the downside, break of 0.6982 support should confirm short term topping, and turn bias back to the downside for 0.6871 support and below.

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) 0.6937; (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) 0.6461; (P) 0.6485; (R1) 0.6508; More…

Intraday bias in AUD/USD stays neutral as consolidation from 0.6363 is still extending. Stronger recovery cannot be ruled out, but upside should be limited by 0.6615 resistance. Break of 0.6363 will resume larger fall from 0.7156 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) 0.7357; (P) 0.7383; (R1) 0.7423; More…

AUD/USD rebounded strongly after hitting 0.7342, supported well above 0.7309 low. The development suggests that consolidation from 0.7309 is extending with another rise. Intraday bias is mildly on the upside for 0.7483 minor resistance or above. But still, upside should be limited below 0.7676 resistance to bring larger fall resumption. 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) 0.7220; (P) 0.7245; (R1) 0.7261; More…

AUD/USD’s fall accelerates to as low as 0.7178 so far today and intraday bias stays on the downside. Current decline from 0.8006 is in progress for 161.8% projection of 0.8006 to 0.7530 from 0.7890 at 0.7120. We’d look for strong support from around 0.6991 to bring rebound. On the upside, above 0.7268 minor resistance will turn intraday bias neutral first. But outlook will stay bearish as long as 0.7425 resistance holds, in case of recovery.

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.

Daily Pivots: (S1) 0.7111; (P) 0.7130; (R1) 0.7152; More…

AUD/USD’s rebound was limited below 0.7168 resistance and drops sharply today. But it’s staying above 0.7056 minor support so far. Intraday bias remains neutral at this point. On the downside, 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. On the upside above 0.7168 will resume the rebound from 0.7003 towards 0.7295 high instead.

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) 0.7236; (P) 0.7268; (R1) 0.7307; More…

Intraday bias in AUD/USD remains neutral as it’s staying in range below 0.7314 key resistance. On the upside, decisive 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. However, break of 0.7164 will suggest that rebound from 0.7020 has completed. In this case, medium term bearishness will be maintained. Intraday bias would be turned back to the downside for retesting 0.7020 low.

In the bigger picture, as long as 0.7314 resistance holds, 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). However, firm break of 0.7314 will suggest that whole decline from 0.8135 has completed. And, the corrective pattern from 0.6826 (2016 low) is extending with another rising leg towards 0.8135 before completion.

Daily Pivots: (S1) 0.7128; (P) 0.7158; (R1) 0.7180; More…

Intraday bias in AUD/USD remains neutral as range trading continues. Considering bearish divergence condition in daily MACD, break of 0.7076 support should confirm short term topping. In this case, intraday bias will be turned back to the downside for 0.6776 support, for correcting the whole rise form 0.5506. Though, break of 0.7243 resistance will extend the rise to 0.7311 long term EMA.

In the bigger picture, rebound from 0.5506 medium term bottom could be correcting whole long term down trend from 1.1079 (2011 high). Further rally would be seen to 55 month EMA (now at 0.7311). This will remain the preferred case as long as it stays above 55 week EMA (now at 0.6790). However, sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.