Daily Pivots: (S1) 0.7120; (P) 0.7136; (R1) 0.7155; More…

AUD/USD edges higher to 0.7171 as rebound from 0.6722 short term bottom extends. Upside momentum is diminishing as seen in 4 hour MACD. But with 0.7026 minor support intact, further rise is still expected. Nevertheless, upside should be limited below 0.7393 resistance. On the downside, break of 0.7026 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) 0.7123; (P) 0.7137; (R1) 0.7163; More…

With 0.7025 minor support intact, AUD/USD’s rebound from 0.6722 might still extend higher. But upside should be limited below 0.7393 resistance. On the downside, break of 0.7025 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) 0.7033; (P) 0.7079; (R1) 0.7165; More…

Intraday bias in AUD/USD remains on the upside as rebound from 0.6722 short term bottom is extending. But upside should be limited below 0.7393 resistance. On the downside, break of 0.7025 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).

AUD/USD spiked lower to 0.6722 last week but recovered strongly since then. The strength of the rebound suggests a short term bottom is in place. Intraday bias remains on the upside this week for further rebound. On the downside, break of 0.7015 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).

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) 0.6840; (P) 0.6930; (R1) 0.7096; More…

Intraday bias in AUD/USD remains neutral as consolidation continues. Upside of recovery should be limited by 0.7071 resistance to bring decline resumption. On the downside, below 0.6928 minor support will turn bias to the downside for 0.6722 first. Decisive break there will extend the larger down trend to 100% projection of 0.8135 to 0.7020 from 0.7393 at 0.6278 next. Nevertheless, break of 0.6928 will delay the bearish case and bring stronger rebound first.

In the bigger picture, medium term fall from 0.8135 is still in progress. Such decline is seen as part of the long term down trend from 1.1079 (2011 high). Sustained break of 0.6826 (2016 low) will pave the way to next key level tat 0.6008 (2008 low). In any case, break of 0.7393 resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish even in case of strong rebound.

Daily Pivots: (S1) 0.6960; (P) 0.7007; (R1) 0.7033; More…

AUD/USD dived to as low as 0.6722 as down trend resumed. 0.6826 (2016 low) was also breached. The long term down trend is tentatively seen as resuming. Further decline is in favor to 100% projection of 0.8135 to 0.7020 from 0.7393 at 0.6278 next. On the upside, break of 0.7071 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish.

In the bigger picture, medium term fall from 0.8135 is still in progress. Such decline is seen as part of the long term down trend from 1.1079 (2011 high). Sustained break of 0.6826 (2016 low) will pave the way to next key level tat 0.6008 (2008 low). In any case, break of 0.7393 resistance is needed to indicate medium term bottoming. Otherwise, outlook will remain bearish even in case of strong rebound.

Daily Pivots: (S1) 0.7019; (P) 0.7046; (R1) 0.7079; More…

AUD/USD’s decline accelerates to as low as 0.6982 so far today. The development should confirm resumption of whole down trend from 0.8135. Intraday bias stays on the downside for 0.6826 key support next. On the upside, break of 0.7071 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish even in case of recovery.

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) 0.7019; (P) 0.7046; (R1) 0.7079; More…

AUD/USD dips to as low as 0.7001 so far but cannot sustain below 0.7020 key support yet. For now, deeper fall is expected as long as 0.7071 minor resistance holds. Sustained break of 0.7020 will resume larger decline from 0.8135 for 0.6826 key support. However, rebound from current level and break of 0.7071 will suggest short term bottoming. Intraday bias will be turned back to the upside for 55 day EMA (now at 0.7180).

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) 0.7005; (P) 0.7041; (R1) 0.7067; More…

AUD/USD dropped to as low as 0.7016 but couldn’t sustain below 0.7020 key support yet. At this point, further fall is expected as long as 0.7077 minor resistance holds. Sustained break of 0.7020 will resume larger decline from 0.8135 for 0.6826 key support. However, rebound from current level and break of 0.7077 will suggest short term bottoming. Intraday bias will be turned back to the upside for 55 day EMA (now at 0.7191).

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) 0.7041; (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.