AUD/USD’s rebound from 0.6722 resumed last week by taking out 0.7235 resistance to as high as 0.7295. As a temporary top is formed there, initial bias is neutral this week first. On the upside, above 0.7295 will target 0.7393 cluster resistance (61.8% projection of 0.6722 to 0.7235 from 0.7076 at 0.7393). We’d expect strong resistance from there to limit upside to complete the rebound from 0.6722. On the downside, break of 0.7180 minor support will turn bias back to the downside for 0.7076 support. However, sustained break of 0.7393 will indicate bullish reversal and target 100% projection at 0.7589 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.

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) 0.7170; (P) 0.7221; (R1) 0.7300; More…

With 4 hour MACD crossed below signal line, a temporary top is in place at 0.7295 and intraday bias is turned neutral. Another rise is mildly in favor with 0.7180 minor support intact. Above 0.7295 will target 0.7393 cluster resistance (61.8% projection of 0.6722 to 0.7235 from 0.7076 at 0.7393). We’d expect strong resistance from there to limit upside to complete the rebound. On the downside, break of 0.7180 minor support will turn bias back to the downside for 0.7076 support. However, sustained break of 0.7393 will indicate near term reversal and target 100% projection at 0.7589 next).

In the bigger picture, the failure to sustain below 0.6826 (2016 low) suggests that the long term down trend is not ready to resume yet. But prior rejection by 55 week EMA indicates underlying medium term bearishness in the pair. Outlook will also bearish as long as 0.7393 resistance holds. On the downside, sustained break of 0.6826 will target 0.6008 (2008 low).

Daily Pivots: (S1) 0.7170; (P) 0.7221; (R1) 0.7300; More…

AUD/USD’s rise rebound 0.6722 resumed by taking out 0.7235 and hits as high as 0.7273 so far. Intraday bias is back on the upside for 0.7393 cluster resistance (61.8% projection of 0.6722 to 0.7235 from 0.7076 at 0.7393). We’d expect strong resistance from there to limit upside to complete the rebound. On the downside, break of 0.7180 minor support will turn bias back to the downside for 0.7076 support. However, sustained break of 0.7393 will indicate near term reversal and target 100% projection at 0.7589 next).

In the bigger picture, the failure to sustain below 0.6826 (2016 low) suggests that the long term down trend is not ready to resume yet. But prior rejection by 55 week EMA indicates underlying medium term bearishness in the pair. Outlook will also bearish as long as 0.7393 resistance holds. On the downside, sustained break of 0.6826 will target 0.6008 (2008 low).

Daily Pivots: (S1) 0.7137; (P) 0.7157; (R1) 0.7175; More…

Intraday bias in AUD?USD remains neutral as consolidation fro 0.7235 might extends. For now, as long as 0.7076 support holds, further rise is still expected. On the upside, break of 0.7235 will extend the rebound from 0.6722 to 0.7393 resistance next. We’d expect strong resistance from there to limit upside.

In the bigger picture, the failure to sustain below 0.6826 (2016 low) suggests that the long term down trend is not ready to resume yet. But prior rejection by 55 week EMA indicates underlying medium term bearishness in the pair. Outlook will also bearish as long as 0.7393 resistance holds. On the downside, sustained break of 0.6826 will target 0.6008 (2008 low).

Daily Pivots: (S1) 0.7148; (P) 0.7176; (R1) 0.7193; More…

Intraday bias in AUD/USD is turned neutral after failing to take out 0.7235 resistance and retreated. For now, as long as 0.7076 support holds, further rise is still expected. On the upside, break of 0.7235 will extend the rebound from 0.6722 to 0.7393 resistance next. We’d expect strong resistance from there to limit upside.

In the bigger picture, the failure to sustain below 0.6826 (2016 low) suggests that the long term down trend is not ready to resume yet. But prior rejection by 55 week EMA indicates underlying medium term bearishness in the pair. Outlook will also bearish as long as 0.7393 resistance holds. On the downside, sustained break of 0.6826 will target 0.6008 (2008 low).

Daily Pivots: (S1) 0.7107; (P) 0.7147; (R1) 0.7217; More…

Intraday bias in AUD/USD remains on the upside for 0.7235 resistance. Corrective pull back from there should have completed at 0.7076 and rise from 0.6722 is possibly resuming. On the upside, break of 0.7235 will confirm this bullish case and target 0.7393 resistance next. We’d expect strong resistance from there to limit upside. For now, in case of retreat, near term outlook will stays cautiously bullish as long as 0.7076 support holds.

In the bigger picture, the failure to sustain below 0.6826 (2016 low) suggests that the long term down trend is not ready to resume yet. But prior rejection by 55 week EMA indicates underlying medium term bearishness in the pair. Outlook will also bearish as long as 0.7393 resistance holds. On the downside, sustained break of 0.6826 will target 0.6008 (2008 low).

AUD/USD gyrated to 0.7076 last week but rebounded strongly from there. The development suggests that fall from 0.7235 is merely a correction and has completed. Initial bias is now on the upside this week for 0.7235 resistance first. Break till resume whole rebound from 0.6722 to 0.7393 resistance next. We’d expect strong resistance from there to limit upside. For now, in case of retreat, near term outlook will stays cautiously bullish as long as 0.7076 support holds.

In the bigger picture, the failure to sustain below 0.6826 (2016 low) suggests that the long term down trend is not ready to resume yet. But prior rejection by 55 week EMA indicates underlying medium term bearishness in the pair. Outlook will also bearish as long as 0.7393 resistance holds. On the downside, sustained break of 0.6826 will target 0.6008 (2008 low).

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) 0.7059; (P) 0.7113; (R1) 0.7146; More…

Intraday bias in AUD/USD remains on the downside at this point. Rebound from 0.6722 should have completed at 0.7235. Further fall should be seen to 38.2% retracement of 0.6722 to 0.7235 at 0.7039 first. Break will target 61.8% retracement at 0.6918 and below. On the upside, however, break of 0.7166 minor resistance will turn bias back to the upside and will likely extend the rebound from 0.6722.

In the bigger picture, the failure to sustain below 0.6826 (2016 low) suggests that the long term down trend is not ready to resume yet. But prior rejection by 55 week EMA indicates underlying medium term bearishness in the pair. Outlook will also stay bearish as long as 0.7393 resistance holds. On the downside, sustained break of 0.6826 will target 0.6008 (2008 low).

Daily Pivots: (S1) 0.7124; (P) 0.7135; (R1) 0.7152; More…

AUD/USD’s break of 0.7116 minor support suggests that rebound from 0.6722 has completed at 0.7235 already. Intraday bias is turned to the downside for 38.2% retracement of 0.6722 to 0.7235 at 0.7039 first. Break will target 61.8% retracement at 0.6918 and below. On the upside, however, break of 0.7166 minor resistance will turn bias back to the upside and will likely extend the rebound from 0.6722.

In the bigger picture, the failure to sustain below 0.6826 (2016 low) suggests that the long term down trend is not ready to resume yet. But prior rejection by 55 week EMA indicates underlying medium term bearishness in the pair. Outlook will also stay bearish as long as 0.7393 resistance holds. On the downside, sustained break of 0.6826 will target 0.6008 (2008 low).

Daily Pivots: (S1) 0.7103; (P) 0.7132; (R1) 0.7149; More…

Intraday bias in AUD/USD remains neutral with focus on 0.7116 minor support. Break there will suggest completion of rebound from 0.6722. Intraday bias will then be turned back to the downside for retesting this low. On the upside, above 0.7235 will extend the rebound towards 0.7393 resistance. We’d expect strong resistance from there to limit upside.

In the bigger picture, the failure to sustain below 0.6826 (2016 low) suggests that the long term down trend is not ready to resume yet. But prior rejection by 55 week EMA indicates underlying medium term bearishness in the pair. Outlook will also stay bearish as long as 0.7393 resistance holds. On the downside, sustained break of 0.6826 will target 0.6008 (2008 low).

Daily Pivots: (S1) 0.7139; (P) 0.7158; (R1) 0.7178; More…

AUD/USD weakens mildly today but it’s staying in range of 0.7116/7235. Intraday bias remains neutral first. As long as 0.7116 minor support holds, further rally is mildly in favor. On the upside, break of 0.7235 will target 0.7393 resistance. We’d expect strong resistance from there to limit upside. On the downside, break of 0.7116 minor support will suggest completion of rebound from 0.6722. Intraday bias will then be turned back to the downside for retesting this low.

In the bigger picture, the failure to sustain below 0.6826 (2016 low) suggests that the long term down trend is not ready to resume yet. But prior rejection by 55 week EMA indicates underlying medium term bearishness in the pair. Outlook will also stay bearish as long as 0.7393 resistance holds. On the downside, sustained break of 0.6826 will target 0.6008 (2008 low).

Daily Pivots: (S1) 0.7149; (P) 0.7178; (R1) 0.7193; More…

Intraday bias in AUD/USD remains neutral for consolidation below 0.7235 temporary top. As long as 0.7116 minor support holds, further rally is in favor. On the upside, break of 0.7235 will target 0.7393 resistance. We’d expect strong resistance from there to limit upside. On the downside, break of 0.7116 minor support will suggest completion of rebound from 0.6722. Intraday bias will then be turned back to the downside for retesting this low.

In the bigger picture, the failure to sustain below 0.6826 (2016 low) suggests that the long term down trend is not ready to resume yet. But prior rejection by 55 week EMA indicates underlying medium term bearishness in the pair. Outlook will also stay bearish as long as 0.7393 resistance holds. On the downside, sustained break of 0.6826 will target 0.6008 (2008 low).

AUD/USD stayed in consolidation below 0.7235 last week and outlook is unchanged. Initial bias remains neutral this week first. As long as 0.7116 minor support holds, further rally is in favor. On the upside, break of 0.7235 will target 0.7393 resistance. We’d expect strong resistance from there to limit upside. On the downside, break of 0.7116 minor support will suggest completion of rebound from 0.6722. Intraday bias will then be turned back to the downside for retesting this low.

In the bigger picture, the failure to sustain below 0.6826 (2016 low) suggests that the long term down trend is not ready to resume yet. But prior rejection by 55 week EMA indicates underlying medium term bearishness in the pair. Outlook will also stay bearish as long as 0.7393 resistance holds. On the downside, sustained break of 0.6826 will target 0.6008 (2008 low).

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) 0.7152; (P) 0.7187; (R1) 0.7228; More…

Intraday bias in AUD/USD remains neutral for consolidation below 0.7235 temporary top. On the downside, break of 0.7116 minor support will suggest completion of rebound from 0.6722. Intraday bias will then be turned back to the downside for retesting this low. On the upside, above 0.7235 will extend the rebound. But upside should be limited by 0.7393 resistance to bring reversal.

In the bigger picture, the failure to sustain below 0.6826 (2016 low) suggests that the long term down trend is not ready to resume yet. But prior rejection by 55 week EMA indicates underlying medium term bearishness in the pair. Outlook will also stay bearish as long as 0.7393 resistance holds. On the downside, sustained break of 0.6826 will target 0.6008 (2008 low).

Daily Pivots: (S1) 0.7149; (P) 0.7180; (R1) 0.7200; More…

AUD/USD’s retreat from 0.7235 is in progress but stays above 0.7116 minor support. Intraday bias remains neutral first. On the downside, break of 0.7116 minor support will suggest completion of rebound from 0.6722. Intraday bias will then be turned back to the downside for retesting this low. On the upside, above 0.7235 will extend the rebound. But upside should be limited by 0.7393 resistance to bring reversal.

In the bigger picture, the failure to sustain below 0.6826 (2016 low) suggests that the long term down trend is not ready to resume yet. But prior rejection by 55 week EMA indicates underlying medium term bearishness in the pair. Outlook will also stay bearish as long as 0.7393 resistance holds. On the downside, sustained break of 0.6826 will target 0.6008 (2008 low).

Daily Pivots: (S1) 0.7180; (P) 0.7203; (R1) 0.7227; More…

Intraday bias in AUD/USD remains neutral at this point. On the downside, break of 0.7116 minor support will suggest completion of rebound from 0.6722. Intraday bias will then be turned back to the downside for retesting this low. On the upside, above 0.7235 will extend the rebound. But upside should be limited by 0.7393 resistance to bring reversal.

In the bigger picture, the failure to sustain below 0.6826 (2016 low) suggests that the long term down trend is not ready to resume yet. But prior rejection by 55 week EMA indicates underlying medium term bearishness in the pair. Outlook will also stay bearish as long as 0.7393 resistance holds. On the downside, sustained break of 0.6826 will target 0.6008 (2008 low).

Daily Pivots: (S1) 0.7174; (P) 0.7196; (R1) 0.7217; More…

Intraday bias in AUD/USD is turned neutral again with 4 hour MACD staying below signal line. On the downside, break of 0.7116 minor support will suggest completion of rebound from 0.6722. Intraday bias will then be turned back to the downside for retesting this low. On the upside, above 0.7235 will extend the rebound. But upside should be limited by 0.7393 resistance to bring reversal.

In the bigger picture, the failure to sustain below 0.6826 (2016 low) suggests that the long term down trend is not ready to resume yet. But prior rejection by 55 week EMA indicates underlying medium term bearishness in the pair. Outlook will also stay bearish as long as 0.7393 resistance holds. On the downside, sustained break of 0.6826 will target 0.6008 (2008 low).

AUD/USD’s rebound from 0.6722 short term bottom extended higher last week. And despite loss of upside momentum as seen in 4 hour MACD, there is no sign of topping yet. Initial bias remains mildly on the upside for further rally. But upside should be limited by 0.7393 resistance to bring reversal. On the downside, break of 0.7116 minor support will turn bias back to the downside for retesting 0.6722 low.

In the bigger picture, the failure to sustain below 0.6826 (2016 low) suggests that the long term down trend is not ready to resume yet. But prior rejection by 55 week EMA indicates underlying medium term bearishness in the pair. Outlook will also stay bearish as long as 0.7393 resistance holds. On the downside, sustained break of 0.6826 will target 0.6008 (2008 low).

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) 0.7155; (P) 0.7177; (R1) 0.7207; More…

Despite diminishing upside momentum as seen in 4 hour MACD, intraday bias stays on the upside in AUD/USD. Current rebound from 0.6722 might extend higher. But upside should be limited below 0.7393 resistance. On the downside, break of 0.7116 minor support will turn bias back to the downside for retesting 0.6722 low. Overall, larger down trend from 0.8135 is expected to resume later after consolidation completes.

In the bigger picture, the failure to sustain below 0.6826 (2016 low) suggests that the long term down trend is now ready to resume yet. But prior rejection by 55 week EMA indicates underlying medium term bearishness in the pair. Outlook will also stay bearish as long as 0.7393 resistance holds. On the downside, sustained break of 0.6826 will target 0.6008 (2008 low).

Daily Pivots: (S1) 0.7135; (P) 0.7165; (R1) 0.7199; More…

AUD/USD’s rebound from 0.6722 is still in progress despite diminishing upside momentum as seen in 4 hour MACD. Further rise would be seen. But upside should be limited below 0.7393 resistance. On the downside, break of 0.7116 minor support will turn bias back to the downside for retesting 0.6722 low. Overall, larger down trend from 0.8135 is expected to resume later after consolidation completes.

In the bigger picture, the failure to sustain below 0.6826 (2016 low) suggests that the long term down trend is now ready to resume yet. But prior rejection by 55 week EMA indicates underlying medium term bearishness in the pair. Outlook will also stay bearish as long as 0.7393 resistance holds. On the downside, sustained break of 0.6826 will target 0.6008 (2008 low).