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.

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 decline last week suggested that corrective recovery from 0.6864 has completed 0.7022, after rejection by 55 day EMA. Late breach of 0.6864 support argues that fall from 0.7295 is resuming. Initial bias stays on the downside this week. Sustained trading below 0.6864 will pave the way to 0.6722 low. On the upside, break of 0.6918 will delay the bearish case and 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.

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) 0.6898; (P) 0.6918; (R1) 0.6934; More…

Intraday bias in AUD/USD remains on the downside for retesting 0.6864 support. Break there will resume the decline from 0.7295 for retesting 0.6722 low. On the upside, above 0.6938 minor resistance will delay the bearish case and bring more consolidations 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) 0.6913; (P) 0.6939; (R1) 0.6953; More…

Intraday bias in AUD/USD remains on the downside for retesting 0.6864. Corrective recovery from 0.6864 should have completed at 0.7022 after rejection by 55 day EMA. Break of 0.6864 will resume the decline fro 0.7295 for retesting 0.6722 low. On the upside, above 0.6965 minor resistance will mix up the near term outlook and 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) 0.6949; (P) 0.6958; (R1) 0.6969; More…

Intraday bias in AUD/USD remains mildly on the downside at this point. Corrective recovery from 0.6864 could have completed at 0.7022 already. Deeper fall would be seen back to retest 0.6864 low. Decisive break there will resume whole fall from 0.7295. On the upside, break of 0.7022 will resume the rebound to 0.7069 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) 0.6941; (P) 0.6975; (R1) 0.6993; More…

AUD/USD’s break of 0.6962 minor support suggests that corrective recovery from 0.6864 has completed earlier than expected at 0.7022. Intraday bias is turned back to the downside for 0.6864 low first. Decisive break there will resume whole fall from 0.7295. On the upside, break of 0.7022 will resume the rebound to 0.7069 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) 0.6970; (P) 0.6996; (R1) 0.7029; More…

Intraday bias in AUD/USD is turned neutral first with today’s retreat. Further rise is in favor as long as 0.6962 minor support holds. Break of 0.7022 will extend the rebound from 0.6864 short term bottom. Break of 0.7069 resistance will target 0.7205 structural resistance next. On the downside, though, break of 0.6962 will indicate completion of the rebound and turn bias back to the downside for retesting 0.6864 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’s rebound from 0.6864 extended higher to 0.7022 last week. The development suggests short term bottoming at 0.6864 on bullish convergence condition in 4 hour MACD. More importantly, decline form 0.7295 might have completed with three waves down to 0.6864. Initial bias stays on the upside this week first. Break of 0.7069 resistance will target 0.7205 structural resistance next. On the downside, though, break of 0.6962 will indicate completion of the rebound and turn bias back to the downside for retesting 0.6864 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) 0.6951; (P) 0.6980; (R1) 0.6997; More…

Intraday bias in AUD/USD remains neutral for the moment. With 0.6938 minor support intact, further rise is still expected. Above 0.7007 will resume the rise from 0.6864 and target 0.7205 key resistance next. However, break of 0.6938 minor support will turn bias back to the downside for 0.6864 low 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) 0.6951; (P) 0.6980; (R1) 0.6997; More…

AUD/USD retreated after hitting 0.7007 and intraday bias is turned neutral first. Further rise will remain in favor as long as 0.6938 resistance turned support holds. Above 0.7007 will extend the rebound from 0.6864 short term bottom to 0.7205 key resistance next. However, break of 0.6938 minor support will turn bias back to the downside for 0.6864 low 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) 0.6966; (P) 0.6985; (R1) 0.7011; More…

AUD/USD’s break of 0.6988 resistance should confirm short term bottoming at 0.6864, on bullish convergence condition in 4 hour MACD. Also, the decline from 0.7295 could have completed with three waves down to 0.6864 too. Intraday bias now stays on the upside for 0.7069 resistance first. Break will target 0.7205 key resistance next. On the downside, though, break of 0.6938 minor support will turn bias back to the downside for 0.6864 low 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.