Daily Pivots: (S1) 0.6494; (P) 0.6526; (R1) 0.6550; More…

Intraday bias in AUD/USD is back on the downside with breach of 0.6489 temporary low. Current down trend from 0.7156 should target 61.8% projection of 0.7156 to 0.6563 from 0.6817 at 0.6451. Firm break there will target 100% projection at 0.6224. On the upside, however, break of 0.6558 resistance will now indicate short term bottoming, and turn bias back to the upside for stronger rebound.

In the bigger picture, rejection by 55 W EMA (now at 0.6822) keeps medium term outlook bearish. Current development suggests that down trend from 0.8006 (2021 high) is possibly still in progress. Retest of 0.6169 (2022 low) should be seen next. Firm break there will confirm down trend resumption. For now, this will remain the favored case as long as 0.6817 resistance holds.

Daily Pivots: (S1) 0.6590; (P) 0.6637; (R1) 0.6667; More...

Intraday bias in AUD/USD remains neutral first and more consolidations could be seen below 0.6713. Further rally is expected as long as 0.6578 support holds. As noted before, fall from 0.6870 has probably completed with three waves down to 0.6361 already. Above 0.6713 will target 0.6870 resistance next. However, firm break of 0.6578 will dampen this bullish view. Sustained trading below 55 D EMA (now at 0.6571) will bring deeper decline back to 0.6361 support instead.

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 could have completed at 0.6269 already. Rise from there is seen as the third leg which is now trying to resume through 0.6870 resistance.

Daily Pivots: (S1) 0.6312; (P) 0.6352; (R1) 0.6377; More…

Intraday bias in AUD/USD stays neutral for the moment, and 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) 0.6832; (P) 0.6856; (R1) 0.6870; More…

Firm break of 0.6849 support suggests resumption of fall from 0.7031. Intraday bias is back on the downside for 0.6754 support. Decisive break there will confirm that corrective rebound form 0.6670 has completed with three waves up to 0.7031. Deeper fall should then be seen to retest 0.6670. On the upside, break of 0.6933 resistance is needed to indicate completion of the current fall. Otherwise, risk will stay on the downside in case of recovery.

In the bigger picture, with 0.7082 resistance intact, there is no clear confirmation of trend reversal yet. That is, down trend from 0.8135 (2018 high) is still expect to continue to 0.6008 (2008 low). However, decisive break of 0.7082 will confirm medium term bottoming and bring stronger rally back to 55 month EMA (now at 0.7484).

Daily Pivots: (S1) 0.6687; (P) 0.6711; (R1) 0.6731; More…

Intraday bias in AUD/USD is turned neutral with current retreat and some consolidations could be seen first. But further rally is expected as long as 0.6539 support holds. As noted before, fall from 0.7156 could have completed with three waves down to 0.6269. Above 0.6734 will target 0.6894 resistance next.

In the bigger picture, there is no confirmation that down trend from 0.8006 (2021 high) has completed. Price actions from 0.6169 (2022 low) could be just a medium term corrective pattern. Rise from 0.6269 is seen as the third leg of the pattern. For now, range trading should be seen between 0.6169 and 0.7156 (2023 high), until further developments.

Daily Pivots: (S1) 0.7383; (P) 0.7405; (R1) 0.7438; More…

Intraday bias in AUD/USD remains on the upside for 0.7477 resistance. Sustained break there will argue that larger decline from 0.8006 has completed and turn near term outlook bullish. Next targets will be 100% projection of 0.7105 to 0.7477 from 0.7169 at 0.7541, and then 161.8% projection at 0.7771. On the downside, though, below 0.7322 minor support will dampen the bullish case and turn intraday bias neutral again first.

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) 0.6796; (P) 0.6817; (R1) 0.6833; More…

At this point, we’re still slightly favoring more decline to 0.6754 support. Break will resume the fall from 0.6929 to retest 0.6670 low. However, on the upside, above 0.6862 will turn bias back to the upside for 0.6929 resistance instead.

In the bigger picture, with 0.7082 resistance intact, there is no clear confirmation of trend reversal yet. That is, down trend from 0.8135 (2018 high) is still expect to continue to 0.6008 (2008 low). However, decisive break of 0.7082 will confirm medium term bottoming and bring stronger rally back to 55 month EMA (now at 0.7525).

Daily Pivots: (S1) 0.6595; (P) 0.6632; (R1) 0.6658; More…

With 0.6708 minor resistance intact, further decline is expected in AUD/USD to retest 0.6563 low. Decisive break there will resume larger decline from 0.7156 to 61.8% projection of 0.7156 to 0.6563 from 0.6817 at 0.6451. On the upside, above 0.6708 minor resistance will delay the bearish case, and probably extend the corrective pattern from 0.6563 with another rising leg.

In the bigger picture, the failure to break through 55 W EMA (now at 0.6822) keeps medium term outlook bearish. Firm break of 61.8% retracement of 0.6169 to 0.7156 at 0.6546 will raise the chance of long term down trend resumption through 0.6169 low. This will now be the favored case as long as 0.6817 resistance holds.

Daily Pivots: (S1) 0.6487; (P) 0.6517; (R1) 0.6536; More…

Intraday bias in AUD/USD stays on the downside for the moment. Current decline from 0.7156 should target 61.8% projection of 0.7156 to 0.6563 from 0.6817 at 0.6451. Firm break there will target 100% projection at 0.6224. On the upside, above 0.6545 minor resistance will turn intraday bias neutral first.

In the bigger picture, rejection by 55 W EMA (now at 0.6822) keeps medium term outlook bearish. Firm break of 61.8% retracement of 0.6169 to 0.7156 at 0.6546 now suggests that whole rebound from 0.6169 has completed at 0.7156 already. Larger down trend from 0.8006 (2021 high) might be ready to resume through 0.6169 low. This will now remain the favored case as long as 0.6817 resistance holds.

Daily Pivots: (S1) 0.7739; (P) 0.7768; (R1) 0.7804; More…

Intraday bias in AUD/USD remains on the downside as fall from 0.8124 is still in progress. As noted before, rise from 0.7382 is possibly completed at 0.8124 already. Deeper decline would be seen to medium term fibonacci level at 0.7628 first. Decisive break there will target 0.7328 key cluster support. On the upside, break of 0.7874 minor resistance is need to indicate completion of the decline. Otherwise, outlook will now be cautiously bearish.

In the bigger picture, rise from 0.6826 medium term bottom is seen as corrective pattern. Current development suggests that it might be completed with three waves up to 0.8124 already. Break of 38.2% retracement of 0.6826 to 0.8124 at 0.7628 will firm this bearish case. And, decisive break of 0.7328 key cluster support (61.8% retracement at 0.7322) will confirm and bring retest of 0.6826 low. In case rise from 0.6826 resumes and extends, strong resistance should be seen at 38.2% retracement of 1.1079 to 0.6826 at 0.8451 to limit upside.

AUD/USD rebounded notably last week but upside was capped at 0.6618 and retreated. Initial bias is turned neutral this week first. On the upside, above 0.6618 will bring further rally to 0.6666 resistance. Break there will resume whole rebound from 0.6442. however, break of 0.6480 support will bring retest of 0.6442 low instead.

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.

In the long term picture, the down trend from 1.1079 (2011 high) should have completed at 0.5506 (2020 low) already. It’s unsure yet whether price actions from 0.5506 are developing into a corrective pattern, or trend reversal. But in either case, fall from 0.8006 is seen the second leg of the pattern. Hence, in case of deeper decline, strong support should emerge above 0.5506 to bring reversal.

Daily Pivots: (S1) 0.6941; (P) 0.6967; (R1) 0.7000; More…

Intraday bias in AUD/USD remains neutral at this point. 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) 0.6902; (P) 0.6930; (R1) 0.6953; More…

Intraday bias in AUD/USD remains neutral as sideway consolidation continues. On the downside, firm break of 0.6828 support will resume larger fall from 0.8006. Next target is 0.6756/60 cluster support. On the upside, above 0.7068 minor resistance will bring stronger rebound to 0.7282 resistance first. Firm break there 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) 0.6659; (P) 0.6684; (R1) 0.6702; More….

AUD/USD drops to as low as 0.6630 so far today and the break of 0.6662/70 support zone should confirm long term down trend resumption. Intraday bias is back on the downside. Next near term target will be 61.8% projection of 0.6933 to 0.6662 from 0.6750 at 0.6583, and then 100% projection at 0.6479. On the upside, break of 0.6750 resistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

In the bigger picture, AUD/USD’s decline from 0.8135 (2018 high) is still in progress. It’s part of the larger down trend from 1.1079 (2011 high). Rejection by 55 week EMA affirms medium term bearishness. Next target is 0.6008 (2008 low). Outlook will stay bearish as long as 0.7031 resistance holds, even in case of strong rebound.

Daily Pivots: (S1) 0.7153; (P) 0.7185; (R1) 0.7220; More…

Intraday bias in AUD/USD remains neutral at this point. Further rise would remain mildly in favor as long as 0.7050 support holds. Above 0.7247 will target 0.7313 resistance. Decisive break there argue that correction from 0.8006 has completed at 0.6966, after hitting 0.6991 key support. Outlook will be turned bullish for 0.7555 resistance next. On the downside, however, break of 0.7050 support will bring retest of 0.6966 low instead.

In the bigger picture, focus remains on 0.6991 key structural support. Sustained break there will argue that the whole up trend from 0.5506 might be finished at 0.8006, after rejection by 0.8135 long term resistance. Deeper decline would then be seen back to 61.8% retracement of 0.5506 to 0.8006 at 0.6461. Meanwhile, strong rebound from 0.6991 will retain medium term bullishness. That is, whole up trend from 0.5506 is still in progress.

Daily Pivots: (S1) 0.7636; (P) 0.7665; (R1) 0.7684; More…

AUD/USD weakens mildly today but stays in range of 0.7605/7740. Intraday bias is still neutral at this point. Another rise cannot be ruled out. However, considering bearish divergence condition in 4 hour MACD, upside should be limited by 0.7777/7833 resistance zone and bring near term reversal. On the downside, break of 0.7605 support will indicate that rise from 0.7158 has completed already and turn bias back to the downside for 55 day EMA (now at 0.7566) first.

In the bigger picture, we’re still treating price actions from 0.6826 low as a correction. And, as long as 38.2% retracement of 0.9504 to 0.6826 at 0.7849 holds, long term down trend from 1.1079 is expected to resume sooner or later. Break of 0.6826 low will target 0.6008 key support level. However, firm break of 0.7849 will indicate that rise from 0.6826 is developing into a medium term rebound, rather than a sideway pattern. In such case, stronger rise should be seek to 55 month EMA (now at 0.8186) and above.

Daily Pivots: (S1) 0.7182; (P) 0.7214; (R1) 0.7233; More…

The consolidation from 0.7158 is still in progress and intraday bias in AUD/USD remains neutral. More consolidations would be seen. In case of stronger recovery, upside should be limited by 0.7310 support turned resistance and bring fall resumption. As noted before, the whole corrective pattern from 0.6826 bottom should have finished. Break of 0.7144 support will likely extend the larger down trend through 0.6826.

In the bigger picture, AUD/USD is staying inside long term falling channel and it’s likely that the down trend from 1.1079 is still in progress. Break of 0.6826 low will confirm this bearish case and target 61.8% projection of 0.9504 to 0.6826 from 0.7777 at 0.6122 next. We’ll be looking for bottoming sign again as it approaches 0.6008 key support level. Meanwhile, sustained break of 0.7833 resistance will be a strong sign of medium term reversal.

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Daily Pivots: (S1) 0.7614; (P) 0.7657; (R1) 0.7687; More…

AUD/USD is still holding in range above 0.7624 support and intraday bias remains neutral at this point. More consolidation could still be seen. But after al, near term outlook stays bearish with 0.7896 resistance intact and deeper fall is expected. Decisive break of 0.7624 will resume whole decline from 0.8124. And, AUD/USD should target next key cluster level at 0.7322/8 next.

In the bigger picture, corrective rise from 0.6826 medium term bottom is likely completed at 0.8124, after hitting 55 month EMA (now at 0.8067). Decisive break of 0.7328 key cluster support (61.8% retracement 0.6826 to 0.8124 at 0.7322) will confirm. And in that case, long term down trend from 1.1079 (2011 high) will likely be resuming. Break of 0.6826 will target 61.8% projection of 1.1079 to 0.6826 from 0.8124 at 0.5496. This will now be the favored case as long as 0.7896 near term resistance holds.

Daily Pivots: (S1) 0.6625; (P) 0.6650; (R1) 0.6701; More…

Further rally is expected in AUD/USD as long as 0.6570 support holds. Sustained break of channel resistance (now at 0.6652) will argue that whole decline from 0.7156 has completed with three waves down to 0.6269. Further rally should then be seen to 0.6894 resistance for confirmation. However, break of 0.6570 support will indicate rejection by the channel and turn bias back to the downside.

In the bigger picture, there is no confirmation that down trend from 0.8006 (2021 high) has completed. price actions from 0.6169 (2022 low) could be just a medium term corrective pattern, with rise from 0.6269 as the third leg. For now, range trading should be seen between 0.6169 and 0.7156 (2023 high), until further developments.

Daily Pivots: (S1) 0.7117; (P) 0.7138; (R1) 0.7158; More…

AUD/USD’s rise from 0.6966 is still in progress and intraday bias stays mildly on the upside for 0.7313 resistance. Decisive break there should confirm that 0.6991 key support was defended and turn near term outlook bullish. On the downside, below 0.7032 will bring retest of 0.6966. Sustained break of 0.6991 will resume the larger fall from 0.8006 and carry larger bearish implication.

In the bigger picture, focus remains on 0.6991 key structural support. Sustained break there will argue that the whole up trend from 0.5506 might be finished at 0.8006, after rejection by 0.8135 long term resistance. Deeper decline would then be seen back to 61.8% retracement of 0.5506 to 0.8006 at 0.6461. Meanwhile, strong rebound from 0.6991 will retain medium term bullishness. That is, whole up trend from 0.5506 is still in progress.