Daily Pivots: (S1) 0.7041; (P) 0.7057; (R1) 0.7083; More…

AUD/USD continues to lose downside momentum as seen in 4 hour MACD. But with 0.7148 resistance intact, further fall is still expected to 0.7020 support. Decisive break there will resume larger decline from 0.8135 for 0.6826 key support. However, firm break of 0.7148 will suggest that correction from 0.7020 is extending with another rise. Intraday bias will then be turned back to the upside for 0.7393 resistance.

In the bigger picture, price actions from 0.7020 are corrective in nature. In case such corrective pattern extends, upside should be limited by 38.2% retracement of 0.8135 to 0.7020 at 0.7446 to bring down trend resumption. Firm break of 0.7020 will extend medium term decline from 0.8135 to retest 0.6826 (2016 low).

Daily Pivots: (S1) 0.7025; (P) 0.7046; (R1) 0.7059; More…

Further decline is expected in AUD/USD for 0.7020 support. Decisive break there will resume larger decline from 0.8135 for 0.6826 key support. On the upside, in case of recovery, outlook will stay bearish as long as 0.7148 resistance holds. However, firm break of 0.7148 will suggest that correction from 0.7020 is extending with another rise. Intraday bias will then be turned back to the upside for 0.7393 resistance.

In the bigger picture, price actions from 0.7020 are corrective in nature. In case such corrective pattern extends, upside should be limited by 38.2% retracement of 0.8135 to 0.7020 at 0.7446 to bring down trend resumption. Firm break of 0.7020 will extend medium term decline from 0.8135 to retest 0.6826 (2016 low).

AUD/USD’s decline from 0.7393 extended to as low as 0.7033 last week and outlook is unchanged. Intraday bias remain son the downside for 0.7020 key support first. Decisive break there will resume larger decline from 0.8135 for 0.6826 key support. On the upside, in case of recovery, outlook will stay bearish as long as 0.7148 resistance holds. However, firm break of 0.7148 will suggest that correction from 0.7020 is extending with another rise. intraday bias will then be turned back to the upside for 0.7393 resistance.

In the bigger picture, price actions from 0.7020 are corrective in nature. In case such corrective pattern extends, upside should be limited by 38.2% retracement of 0.8135 to 0.7020 at 0.7446 to bring down trend resumption. Firm break of 0.7020 will extend medium term decline from 0.8135 to retest 0.6826 (2016 low).

In the longer term picture, the corrective structure of rebound from 0.6826 (2016 low) to 0.8135, and the failure to break 38.2% retracement of 1.1079 (2011 high) to 0.6826 at 0.8451, carry bearish implications. AUD/USD was also rejected by 55 month EMA. Now, the down trend from 1.1079 is in favor to extend. On break of 0.6826, next target will be 61.8% projection of 1.1079 to 0.6826 from 0.8135 at 0.5507.

Daily Pivots: (S1) 0.7081; (P) 0.7115; (R1) 0.7144; More…

Intraday bias in AUD/USD remains on the downside. Fall from 0.7393 is in progress for retesting 0.7020 low. Decisive break there will resume larger decline from 0.8135 for 0.6826 key support. On the upside, break of 0.7203 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

In the bigger picture, a medium term bottom is in place at 0.7020 ahead of 0.6826 key support (2016 low). Stronger rebound could still be seen to correct the whole fall from 0.8135 high. But we’d expect strong resistance from 0.7500 support turned resistance to limit upside. Medium term fall from 0.8135 should resume later and extend to take on 0.6826 low at a later stage, after the correction from 0.7020 completes.

Daily Pivots: (S1) 0.7064; (P) 0.7132; (R1) 0.7177; More…

AUD/USD’s fall from 0.7393 resumed after brief consolidations and reaches as low as 0.7086 so far. Intraday bias is back on the downside for 0.7020 low. Decisive break there will resume larger decline from 0.8135 for 0.6826 key support. On the upside, break of 0.7203 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

In the bigger picture, a medium term bottom is in place at 0.7020 ahead of 0.6826 key support (2016 low). Stronger rebound could still be seen to correct the whole fall from 0.8135 high. But we’d expect strong resistance from 0.7500 support turned resistance to limit upside. Medium term fall from 0.8135 should resume later and extend to take on 0.6826 low at a later stage, after the correction from 0.7020 completes.

Daily Pivots: (S1) 0.7165; (P) 0.7185; (R1) 0.7204; More…

Intraday bias in AUD/USD remains neutral as it’s staying in consolidation above 0.7151 temporary low. Upside of recovery should be limited by 0.7246 resistance to bring fall resumption. Below 0.7151 will extend the fall from 0.7393 to retest 0.7020 low. Nevertheless, break of 0.7246 resistance will delay the bearish case and turn bias back to the upside. Rebound from 0.7020 could then probably head to 38.2% retracement of 0.8135 to 0.7020 at 0.7446 before completion.

In the bigger picture, a medium term bottom is in place at 0.7020 ahead of 0.6826 key support (2016 low). Stronger rebound could still be seen to correct the whole fall from 0.8135 high. But we’d expect strong resistance from 0.7500 support turned resistance to limit upside. Medium term fall from 0.8135 should resume later and extend to take on 0.6826 low at a later stage, after the correction from 0.7020 completes.

Daily Pivots: (S1) 0.7168; (P) 0.7178; (R1) 0.7188; More…

AUD/USD formed a temporary low at 0.7151 and recovered. Intraday bias is turned neutral first. But upside of recovery should be limited by 0.7246 resistance to bring fall resumption. Below 0.7151 will extend the fall from 0.7393 to retest 0.7020 low. Nevertheless, break of 0.7246 resistance will delay the bearish case and turn bias back to the upside. Rebound from 0.7020 could then probably head to 38.2% retracement of 0.8135 to 0.7020 at 0.7446 before completion.

In the bigger picture, a medium term bottom is in place at 0.7020 ahead of 0.6826 key support (2016 low). Stronger rebound could still be seen to correct the whole fall from 0.8135 high. But we’d expect strong resistance from 0.7500 support turned resistance to limit upside. Medium term fall from 0.8135 should resume later and extend to take on 0.6826 low at a later stage, after the correction from 0.7020 completes.

Daily Pivots: (S1) 0.7141; (P) 0.7185; (R1) 0.7220; More…

Intraday bias in AUD?USD remains on the downside at this point. The corrective rebound from 0.7020 should have completed at 0.7393 already. Deeper fall should be seen back to retest 0.7020 low first. On the upside, break of 0.7246 resistance will delay the bearish case and turn bias back to the upside. Rebound from 0.7020 could probably head to 38.2% retracement of 0.8135 to 0.7020 at 0.7446 before completion.

In the bigger picture, a medium term bottom is in place at 0.7020 ahead of 0.6826 key support (2016 low). Stronger rebound could still be seen to correct the whole fall from 0.8135 high. But we’d expect strong resistance from 0.7500 support turned resistance to limit upside. Medium term fall from 0.8135 should resume later and extend to take on 0.6826 low at a later stage, after the correction from 0.7020 completes.

AUD/USD dropped to as low as 0.7151 last week. The development confirmed completion of corrective rebound from 0.7020 at 0.7393. Initial bias stays on the downside this week for retesting 0.7020 low first. On the upside, though, break of 0.7246 resistance will delay the bearish case and turn bias back to the upside. Rebound from 0.7020 could probably head to 38.2% retracement of 0.8135 to 0.7020 at 0.7446 before completion.

In the bigger picture, a medium term bottom is in place at 0.7020 ahead of 0.6826 key support (2016 low). Stronger rebound could still be seen to correct the whole fall from 0.8135 high. But we’d expect strong resistance from 0.7500 support turned resistance to limit upside. Medium term fall from 0.8135 should resume later and extend to take on 0.6826 low at a later stage, after the correction from 0.7020 completes.

In the longer term picture, the corrective structure of rebound from 0.6826 (2016 low) to 0.8135, and the failure to break 38.2% retracement of 1.1079 (2011 high) to 0.6826 at 0.8451, carry bearish implications. AUD/USD was also rejected by 55 month EMA. Now, the down trend from 1.1079 is in favor to extend. On break of 0.6826, next target will be 61.8% projection of 1.1079 to 0.6826 from 0.8135 at 0.5507.

Daily Pivots: (S1) 0.7210; (P) 0.7229; (R1) 0.7245; More…

AUD/USD drops notably after failing to sustained above 4 hour 55 EMA. Focus is back on 0.7199 support. Sustained trading below 0.7199 will confirm completion of corrective rebound from 0.7020. And, deeper fall should then be seen back to retest 0.7020 low. On the upside, above 0.7246 minor resistance will turn bias back to the upside. In that case, corrective rise from 0.7020 would extend to 38.2% retracement of 0.8135 to 0.7020 at 0.7446 before completion.

In the bigger picture, a medium term bottom is in place at 0.7020 ahead of 0.6826 key support (2016 low). Stronger rebound might be seen to correct the whole fall from 0.8135 high. But we’d expect strong resistance from 0.7500 support turned resistance to limit upside. Medium term fall from 0.8135 should resume and extend to take on 0.6826 low at a later stage, after the correction from 0.7020 completes.

Daily Pivots: (S1) 0.7199; (P) 0.7219; (R1) 0.7239; More…

Intraday bias in AUD/USD remains neutral and another decline is mildly in favor with 0.7259 minor resistance intact. Decisive break of 1.7199 support will suggest that the corrective rebound from 0.7020 has completed earlier than expected. Deeper fall should then be seen back to retest 0.7020 low. On the upside, above 0.7259 minor resistance will turn bias back to the upside. In that case, corrective rise from 0.7020 would extend to 38.2% retracement of 0.8135 to 0.7020 at 0.7446 before completion.

In the bigger picture, a medium term bottom is in place at 0.7020 ahead of 0.6826 key support (2016 low). Stronger rebound might be seen to correct the whole fall from 0.8135 high. But we’d expect strong resistance from 0.7500 support turned resistance to limit upside. Medium term fall from 0.8135 should resume and extend to take on 0.6826 low at a later stage, after the correction from 0.7020 completes.

Daily Pivots: (S1) 0.7183; (P) 0.7204; (R1) 0.7225; More…

Focus remains on 0.7199 support in AUD/USD. Decisive break there will suggest that the corrective rebound from 0.7020 has completed earlier than expected. Deeper fall should then be seen back to retest 0.7020 low. On the upside, above 0.7259 minor resistance will turn bias back to the upside. In that case, corrective rise from 0.7020 would extend to 38.2% retracement of 0.8135 to 0.7020 at 0.7446 before completion.

In the bigger picture, a medium term bottom is in place at 0.7020 ahead of 0.6826 key support (2016 low). Stronger rebound might be seen to correct the whole fall from 0.8135 high. But we’d expect strong resistance from 0.7500 support turned resistance to limit upside. Medium term fall from 0.8135 should resume and extend to take on 0.6826 low at a later stage, after the correction from 0.7020 completes.

Daily Pivots: (S1) 0.7169; (P) 0.7198; (R1) 0.7218; More…

No change in AUD/USD’s outlook and focus remains on 0.7199 support. Decisive break there will suggest that the corrective rebound from 0.7020 has completed earlier than expected. Deeper fall should then be seen back to retest 0.7020 low. On the upside, above 0.7259 minor resistance will turn bias back to the upside. In that case, corrective rise from 0.7020 would extend to 38.2% retracement of 0.8135 to 0.7020 at 0.7446 before completion.

In the bigger picture, a medium term bottom is in place at 0.7020 ahead of 0.6826 key support (2016 low). Stronger rebound might be seen to correct the whole fall from 0.8135 high. But we’d expect strong resistance from 0.7500 support turned resistance to limit upside. Medium term fall from 0.8135 should resume and extend to take on 0.6826 low at a later stage, after the correction from 0.7020 completes.

Daily Pivots: (S1) 0.7184; (P) 0.7213; (R1) 0.7228; More…

Focus remains on 0.7199 support for AUD/USD. Decisive break there will suggest that the corrective rebound from 0.7020 has completed earlier than expected. Deeper fall should then be seen back to retest 0.7020 low. On the upside, above 0.7300 minor resistance will turn bias back to the upside. In that case, corrective rise from 0.7020 would extend to 38.2% retracement of 0.8135 to 0.7020 at 0.7446 before completion.

In the bigger picture, a medium term bottom is in place at 0.7020 ahead of 0.6826 key support (2016 low). Stronger rebound might be seen to correct the whole fall from 0.8135 high. But we’d expect strong resistance from 0.7500 support turned resistance to limit upside. Medium term fall from 0.8135 should resume and extend to take on 0.6826 low at a later stage, after the correction from 0.7020 completes.

AUD/USD edged higher to 0.7393 last week but reversed from there. Initial bias stays on the downside this week with focus on 0.7199 support. Decisive break there will suggest that the corrective rebound from 0.7020 has completed earlier than expected. Deeper fall should then be seen back to retest 0.7020 low. On the upside, above 0.7300 minor resistance will turn bias back to the upside. In that case, corrective rise from 0.7020 would extend to 38.2% retracement of 0.8135 to 0.7020 at 0.7446 before completion.

In the bigger picture, a medium term bottom is in place at 0.7020 ahead of 0.6826 key support (2016 low). Stronger rebound might be seen to correct the whole fall from 0.8135 high. But we’d expect strong resistance from 0.7500 support turned resistance to limit upside. Medium term fall from 0.8135 should resume and extend to take on 0.6826 low at a later stage, after the correction from 0.7020 completes.

In the longer term picture, the corrective structure of rebound from 0.6826 (2016 low) to 0.8135, and the failure to break 38.2% retracement of 1.1079 (2011 high) to 0.6826 at 0.8451, carry bearish implications. AUD/USD was also rejected by 55 month EMA. Now, the down trend from 1.1079 is in favor to extend. On break of 0.6826, next target will be 61.8% projection of 1.1079 to 0.6826 from 0.8135 at 0.5507.

Daily Pivots: (S1) 0.7193; (P) 0.7233; (R1) 0.7275; More…

While the fall from 0.7393 was steep, AUD/USD drew support from 0.7199 and recovered. There is no confirmation on reversal yet and intraday bias is neutral for now. On the downside, firm break of 0.7199 will suggest that the corrective rebound from 0.7020 has completed earlier than expected. Deeper fall should then be seen back to retest 0.7020 low. On the upside, above 0.7300 minor resistance will turn bias back to the upside. In that case, corrective rise from 0.7020 would extend to 38.2% retracement of 0.8135 to 0.7020 at 0.7446 before completion.

In the bigger picture, a medium term bottom is in place at 0.7020 ahead of 0.6826 key support (2016 low). Stronger rebound would be seen to corrective the whole fall from 0.8135 high. But we’d expect strong resistance from 0.7500 support turned resistance to limit upside. Medium term fall from 0.8135 should resume and extend to take on 0.6826 low at a later stage, after the correction from 0.7020 completes.

Daily Pivots: (S1) 0.7234; (P) 0.7295; (R1) 0.7330; More…

AUD/USD’s fall from 0.7393 accelerates lower today and focus is now back on 0.7199 support. Firm break there will suggest that the corrective rebound from 0.7020 has completed earlier than expected. Deeper fall should then be seen back to retest 0.7020 low. On the upside, above 0.7300 minor resistance will turn bias back to the upside. In that case, corrective rise from 0.7020 would extend to 38.2% retracement of 0.8135 to 0.7020 at 0.7446 before completion.

In the bigger picture, a medium term bottom is in place at 0.7020 ahead of 0.6826 key support (2016 low). Stronger rebound would be seen to corrective the whole fall from 0.8135 high. But we’d expect strong resistance from 0.7500 support turned resistance to limit upside. Medium term fall from 0.8135 should resume and extend to take on 0.6826 low at a later stage, after the correction from 0.7020 completes.

Daily Pivots: (S1) 0.7312; (P) 0.7353; (R1) 0.7380; More…

AUD/USD’s rebound was limited at 0.7393 and retreated sharply. Intraday bias is turned neutral first. For now, as long as 0.7199 support holds, corrective rise from 0.7020 medium term bottom should still extend higher. On the upside, above 0.7393 will target 38.2% retracement of 0.8135 to 0.7020 at 0.7446. However, on the downside, break of 0.7199 will suggest that such rebound has completed earlier than expected. Intraday bias will be turned back to the downside for retesting 0.7020 low.

In the bigger picture, a medium term bottom is in place at 0.7020 ahead of 0.6826 key support (2016 low). Stronger rebound would be seen to corrective the whole fall from 0.8135 high. But we’d expect strong resistance from 0.7500 support turned resistance to limit upside. Medium term fall from 0.8135 should resume and extend to take on 0.6826 low at a later stage, after the correction from 0.7020 completes.

Daily Pivots: (S1) 0.7339; (P) 0.7366; (R1) 0.7387; More…

Intraday bias in AUD/USD remains on the upside. Current rebound from 0.7020 medium term bottom should target 38.2% retracement of 0.8135 to 0.7020 at 0.7446 and above. On the downside, break of 0.7284 minor support will turn intraday bias neutral first. But near term outlook will stay bullish as long as 0.7199 support holds.

In the bigger picture, AUD/USD’s decline from 0.8135 should have completed at 0.7020 already, ahead of 0.6826 key support (2016 low). Stronger rebound should be seen. But still, we’d expect strong resistance from 0.7500 support turned resistance to limit upside. Medium term fall from 0.8135 should extend to take on 0.6826 low at a later stage.

Daily Pivots: (S1) 0.7289; (P) 0.7308; (R1) 0.7332; More…

AUD/USD surges to as high as 0.7380 so far today. The strong break of 0.7314 resistance finally confirmed medium term reversal. Intraday bias is on the up side for further rally to 38.2% retracement of 0.8135 to 0.7020 at 0.7446 and above. On the downside, break of 0.7284 minor support will turn intraday bias neutral first. But near term outlook will stay bullish as long as 0.7199 support holds.

In the bigger picture, AUD/USD’s decline from 0.8135 should have completed at 0.7020 already, ahead of 0.6826 key support (2016 low). Stronger rebound should be seen. But still, we’d expect strong resistance from 0.7500 support turned resistance to limit upside. Medium term fall from 0.8135 should extend to take on 0.6826 low at a later stage.