AUD/USD edged lower to 0.7411 last week but formed a short term bottom there and rebounded. Initial bias is mildly on the upside this week for recovery to 0.7642 support turned resistance. But we’d expect upside to be limited by 38.2% retracement of 0.8135 to 0.7144 at 0.7688 to bring fall resumption. Below 0.7411 will resumed the fall from 0.8135 and target cluster support at 0.7328 (61.8% retracement of 0.6826 to 0.8135 at 0.7326).

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. Decisive break of 0.7500 key support suggests that such correction is completed at 0.8135. Deeper decline would be seen back to retest 0.6826 low. In case of another rise, we’d expect strong resistance from 38.2% retracement of 1.1079 to 0.6826 at 0.8451 to limit upside to bring long term down trend resumption eventually.

In the longer term picture, 0.6826 is seen as a long term bottom. Rise from there could either reverse the down trend from 1.1079, or just develop into a corrective pattern. At this point, we’re favoring the latter. And, as long as 38.2% retracement of 1.1079 to 0.6826 at 0.8451 holds, we’d anticipate another decline through 0.6826 at a later stage. But strong support should be seen between 0.4773 (2001 low) and 0.6008 (2008 low).

Daily Pivots: (S1) 0.7423; (P) 0.7448; (R1) 0.7483; More…

Intraday bias in AUD/USD remains neutral for consolidation above 0.7411 temporary low. As long as 0.7559 minor resistance holds, deeper decline is expected. Break of 0.7411 will target cluster support at 0.7328 (61.8% retracement of 0.6826 to 0.8135 at 0.7326). Sustained break will add more credence to the case of long term down trend resumption and target 0.7158 support next. On the upside, break of 0.7559 resistance, however, will indicate short term bottoming, on bullish convergence condition in 4 hour MACD. Lengthier consolidation would then be seen before another fall.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. Decisive break of 0.7500 key support suggests that such correction is completed at 0.8135. Deeper decline would be seen back to retest 0.6826 low. In case of another rise, we’d expect strong resistance from 38.2% retracement of 1.1079 to 0.6826 at 0.8451 to limit upside to bring long term down trend resumption eventually.

Daily Pivots: (S1) 0.7423; (P) 0.7448; (R1) 0.7483; More…

With 0.7559 minor resistance intact, further fall is expected in AUD?USD. Next target is cluster support at 0.7328 (61.8% retracement of 0.6826 to 0.8135 at 0.7326). Sustained break will add more credence to the case of long term down trend resumption and target 0.7158 support next. On the upside, break of 0.7559 resistance, however, will indicate short term bottoming, on bullish convergence condition in 4 hour MACD. Lengthier consolidation would then be seen before another fall.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. Decisive break of 0.7500 key support suggests that such correction is completed at 0.8135. Deeper decline would be seen back to retest 0.6826 low. In case of another rise, we’d expect strong resistance from 38.2% retracement of 1.1079 to 0.6826 at 0.8451 to limit upside to bring long term down trend resumption eventually.

Daily Pivots: (S1) 0.7414; (P) 0.7471; (R1) 0.7508; More…

Intraday bias in AUD/USD remains on the downside for the moment. Current decline should target next cluster support at 0.7328 (61.8% retracement of 0.6826 to 0.8135 at 0.7326). Sustained break will add more credence to the case of long term down trend resumption and target 0.7158 support next. On the upside, break of 0.7559 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. Decisive break of 0.7500 key support suggests that such correction is completed at 0.8135. Deeper decline would be seen back to retest 0.6826 low. In case of another rise, we’d expect strong resistance from 38.2% retracement of 1.1079 to 0.6826 at 0.8451 to limit upside to bring long term down trend resumption eventually.

Daily Pivots: (S1) 0.7492; (P) 0.7517; (R1) 0.7542; More…

AUD/USD’s decline resumed by taking out 0.7472 support and reaches as low as 0.7446 so far. Intraday bias is back on the downside. Sustained trading below 0.7500 will indicate medium term reversal and target next support at 0.7328. On the upside, break of 0.7559 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. Decisive break of 0.7500 key support will suggest that such correction is completed. In that case, deeper decline would be seen back to retest 0.6826 low. In case of another rise, we’d expect strong resistance from 38.2% retracement of 1.1079 to 0.6826 at 0.8451 to limit upside to bring long term down trend resumption eventually.

Daily Pivots: (S1) 0.7492; (P) 0.7517; (R1) 0.7542; More…

AUD/USD is staying in consolidation above 0.7472 temporary low. With 0.7583 minor resistance intact, recent decline should resume sooner rather than later. Below 0.7472 and sustained break of 0.7500 will indicate medium term reversal and target next support at 0.7328. However, break of 0.7583 will indicate short term bottoming, on bullish convergence condition in 4 hour MACD. And stronger rebound could be seen back to 38.2% retracement of 0.8135 to 0.7472 at 0.7725 and possibly above.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. Decisive break of 0.7500 key support will suggest that such correction is completed. In that case, deeper decline would be seen back to retest 0.6826 low. In case of another rise, we’d expect strong resistance from 38.2% retracement of 1.1079 to 0.6826 at 0.8451 to limit upside to bring long term down trend resumption eventually.

Daily Pivots: (S1) 0.7499; (P) 0.7529; (R1) 0.7568; More…

Intraday bias in AUD/USD remains neutral for consolidation above 0.7472 temporary low. As long as 0.7583 minor resistance holds, the consolidation should be relatively brief and recent fall should resume sooner rather than later. Below 0.7472 and sustained break of 0.7500 will indicate medium term reversal and target next support at 0.7328. However, break of 0.7583 will indicate short term bottoming, on bullish convergence condition in 4 hour MACD. And stronger rebound could be seen back to 38.2% retracement of 0.8135 to 0.7472 at 0.7725 and possibly above.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. Decisive break of 0.7500 key support will suggest that such correction is completed. In that case, deeper decline would be seen back to retest 0.6826 low. In case of another rise, we’d expect strong resistance from 38.2% retracement of 1.1079 to 0.6826 at 0.8451 to limit upside to bring long term down trend resumption eventually.

AUD/USD dropped to as low as 0.7472 last week and breached 0.7500 key support level. But there was no follow through selling and the pair recovered. Initial bias is neutral this week for consolidations first. As long as 0.7583 minor resistance holds, the consolidation should be relatively brief and recent fall should resume sooner rather than later. Below 0.7472 and sustained break of 0.7500 will indicate medium term reversal and target next support at 0.7328. However, break of 0.7583 will indicate short term bottoming, on bullish convergence condition in 4 hour MACD. And stronger rebound could be seen back to 38.2% retracement of 0.8135 to 0.7472 at 0.7725 and possibly above.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. Decisive break of 0.7500 key support will suggest that such correction is completed. In that case, deeper decline would be seen back to retest 0.6826 low. In case of another rise, we’d expect strong resistance from 38.2% retracement of 1.1079 to 0.6826 at 0.8451 to limit upside to bring long term down trend resumption eventually.

In the longer term picture, 0.6826 is seen as a long term bottom. Rise from there could either reverse the down trend from 1.1079, or just develop into a corrective pattern. At this point, we’re favoring the latter. And, as long as 38.2% retracement of 1.1079 to 0.6826 at 0.8451 holds, we’d anticipate another decline through 0.6826 at a later stage. But strong support should be seen between 0.4773 (2001 low) and 0.6008 (2008 low).

Daily Pivots: (S1) 0.7495; (P) 0.7519; (R1) 0.7554; More…

AUD/USD’s recovery from 0.7472 extends today but it’s staying below 0.7583 minor resistance. Intraday bias remains neutral at this point and further decline is expected. As noted before, sustained break of of 0.7500 key support level will indicate medium term reversal and target next support at 0.7328. However, break of 0.7583 will indicate short term bottoming, on bullish convergence condition in 4 hour MACD. And stronger rebound could be seen back to 38.2% retracement of 0.8135 to 0.7472 at 0.7725 and possibly above.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. Decisive break of 0.7500 key support will suggest that such correction is completed. In that case, deeper decline would be seen back to retest 0.6826 low. In case of another rise, we’d expect strong resistance from 38.2% retracement of 1.1079 to 0.6826 at 0.8451 to limit upside to bring long term down trend resumption eventually.

Daily Pivots: (S1) 0.7465; (P) 0.7501; (R1) 0.7527; More…

AUD/USD continues to lose downside momentum, as seen in 4 hour MACD, as it’s drawing support from 0.7500. But with 0.7583 minor resistance intact, further fall is still expected. Sustained break of 0.7500 key support level will indicate medium term reversal and target next support at 0.7328. Nonetheless, break of 0.7583 will suggest short term bottoming. In that case, stronger rebound would be seen back to 0.7642 support turned resistance.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. Decisive break of 0.7500 key support will suggest that such correction is completed. In that case, deeper decline would be seen back to retest 0.6826 low. In case of another rise, we’d expect strong resistance from 38.2% retracement of 1.1079 to 0.6826 at 0.8451 to limit upside to bring long term down trend resumption eventually.

Daily Pivots: (S1) 0.7457; (P) 0.7502; (R1) 0.7531; More…

Deeper decline is expected in AUD/USD as long as 0.7583 minor resistance holds. Sustained break of 0.7500 key support level will indicate medium term reversal and target next support at 0.7328. Nonetheless, break of 0.7583 will suggest short term bottoming. In that case, stronger rebound would be seen back to 0.7642 support turned resistance.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. Decisive break of 0.7500 key support will suggest that such correction is completed. In that case, deeper decline would be seen back to retest 0.6826 low. In case of another rise, we’d expect strong resistance from 38.2% retracement of 1.1079 to 0.6826 at 0.8451 to limit upside to bring long term down trend resumption eventually.

Daily Pivots: (S1) 0.7508; (P) 0.7545; (R1) 0.7566; More…

AUD/USD dips lower to 0.7524 as recent fall resumes. Intraday bias is back on the downside with focus on 0.7500 key support level. Decisive break there will indicate medium term reversal and target next support at 0.7328. On the upside, above 0.7583 minor resistance will suggest short term bottoming. In that case, stronger rebound would be seen back to 0.7642 support turned resistance.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. Decisive break of 0.7500 key support will suggest that such correction is completed. In that case, deeper decline would be seen back to retest 0.6826 low. In case of another rise, we’d expect strong resistance from 38.2% retracement of 1.1079 to 0.6826 at 0.8451 to limit upside to bring long term down trend resumption eventually.

Daily Pivots: (S1) 0.7546; (P) 0.7564; (R1) 0.7598; More…

Intraday bias in AUD/USD remains neutral for consolidation above 0.7531 temporary low. Upside of recovery should be limited by 0.7642 support turned resistance to bring another decline. Below 0.7531 will resume larger fall from 0.8135 to 0.7500 key support level. On the upside, however, firm break of 0.7642 will be an early sign of near term reversal and turn focus back to 0.7812 resistance.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. Decisive break of 0.7500 key support will suggest that such correction is completed. In that case, deeper decline would be seen back to retest 0.6826 low. In case of another rise, we’d expect strong resistance from 38.2% retracement of 1.1079 to 0.6826 at 0.8451 to limit upside to bring long term down trend resumption eventually.

AUD/USD’s decline from 0.8135 resumed last week and dropped to as low as 0.7531. As a temporary low was formed after hitting near term channel support, initial bias is neutral this week first. Some consolidations would be seen but upside should be limited by 0.7642 support turned resistance. Below 0.7531 will target 0.7500 key support level. However, firm break of 0.7642 will be an early sign of near term reversal and turn focus back to 0.7812 resistance.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. Decisive break of 0.7500 key support will suggest that such correction is completed. In that case, deeper decline would be seen back to retest 0.6826 low. In case of another rise, we’d expect strong resistance from 38.2% retracement of 1.1079 to 0.6826 at 0.8451 to limit upside to bring long term down trend resumption eventually.

In the longer term picture, 0.6826 is seen as a long term bottom. Rise from there could either reverse the down trend from 1.1079, or just develop into a corrective pattern. At this point, we’re favoring the latter. And, as long as 38.2% retracement of 1.1079 to 0.6826 at 0.8451 holds, we’d anticipate another decline through 0.6826 at a later stage. But strong support should be seen between 0.4773 (2001 low) and 0.6008 (2008 low).

Daily Pivots: (S1) 0.7536; (P) 0.7562; (R1) 0.7578; More…

AUD/USD’s decline continues despite losing downside momentum as seen in 4 hour MACD. Deeper fall should be seen to 0.7500 key support level. Decisive break there will indicate medium term reversal and target 0.7328 support next. On the upside, above 0.7620 minor resistance will turn intraday bias neutral and bring consolidations. But recovery should be limited below 0.7812 resistance to bring fall resumption.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. It might still extend higher but we’d expect strong resistance from 38.2% retracement of 1.1079 to 0.6826 at 0.8451 to limit upside to bring long term down trend resumption. On the downside, break of 0.7500 support will now be an important signal that such corrective rebound is completed. In that case, AUD/USD would be heading back to 0.6826 low in medium term.

Daily Pivots: (S1) 0.7542; (P) 0.7573; (R1) 0.7596; More…

With 0.7620 minor resistance intact, intraday bias in AUD/USD remains on the downside for 0.7500 key support level. Decisive break there will indicate medium term reversal and target 0.7328 support next. On the upside, above 0.7620 minor resistance will turn intraday bias neutral and bring consolidations. But recovery should be limited below 0.7812 resistance to bring fall resumption.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. It might still extend higher but we’d expect strong resistance from 38.2% retracement of 1.1079 to 0.6826 at 0.8451 to limit upside to bring long term down trend resumption. On the downside, break of 0.7500 support will now be an important signal that such corrective rebound is completed. In that case, AUD/USD would be heading back to 0.6826 low in medium term..

Daily Pivots: (S1) 0.7575; (P) 0.7598; (R1) 0.7625; More…

AUD/USD’s decline continues today and reaches as low as 0.7564 so far. Intraday bias remains on the downside for 0.7500 key support level next. Decisive break there will indicate medium term reversal and target 0.7328 support next. On the upside, above 0.7620 minor resistance will turn intraday bias neutral and bring consolidations. But recovery should be limited below 0.7812 resistance to bring fall resumption.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. It might still extend higher but we’d expect strong resistance from 38.2% retracement of 1.1079 to 0.6826 at 0.8451 to limit upside to bring long term down trend resumption. On the downside, break of 0.7500 support will now be an important signal that such corrective rebound is completed. In that case, AUD/USD would be heading back to 0.6826 low in medium term.

Daily Pivots: (S1) 0.7575; (P) 0.7628; (R1) 0.7658; More…

Intraday bias in AUD/USD remains on the downside. Current fall is part of the whole decline from 0.8135 and should target 0.7500 key support level next. Break there will indicate medium term reversal. On the upside, above 0.7682 minor resistance will turn intraday bias neutral and bring consolidations. But recovery should be limited below 0.7812 resistance to bring fall resumption.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. It might still extend higher but we’d expect strong resistance from 38.2% retracement of 1.1079 to 0.6826 at 0.8451 to limit upside to bring long term down trend resumption. On the downside, break of 0.7500 support will now be an important signal that such corrective rebound is completed. In that case, AUD/USD would be heading back to 0.6826 low in medium term.

Daily Pivots: (S1) 0.7639; (P) 0.7685; (R1) 0.7715; More…

AUD/USD drops to as low as 0.7633 so far today. Break of 0.7642 confirms resumption of whole decline from 0.8135. Intraday bias remains on the downside for 0.7500 key support level next. Break there will indicate medium term reversal. On the upside, above 0.7682 minor resistance will turn intraday bias neutral and bring consolidations. But recovery should be limited below 0.7812 resistance to bring fall resumption.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. It might still extend higher but we’d expect strong resistance from 38.2% retracement of 1.1079 to 0.6826 at 0.8451 to limit upside to bring long term down trend resumption. On the downside, break of 0.7500 support will now be an important signal that such corrective rebound is completed. In that case, AUD/USD would be heading back to 0.6826 low in medium term.

Daily Pivots: (S1) 0.7639; (P) 0.7685; (R1) 0.7715; More…

AUD/USD recovers mildly today but intraday bias remains on the downside with 0.7702 minor resistance intact. Break of 0.7642 support will resume the whole decline from 0.8135 and target 0.7500 key support level next. Break there will indicate medium term reversal. On the upside, above 0.7702 minor resistance will turn intraday bias neutral and bring consolidations. But recovery should be limited below 0.7812 resistance to bring fall resumption.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. It might still extend higher but we’d expect strong resistance from 38.2% retracement of 1.1079 to 0.6826 at 0.8451 to limit upside to bring long term down trend resumption. On the downside, break of 0.7500 support will now be an important signal that such corrective rebound is completed. In that case, AUD/USD would be heading back to 0.6826 low in medium term.