Daily Pivots: (S1) 0.6683; (P) 0.6721; (R1) 0.6746; More…
Intraday bias in AUD/USD remains mildly on the downside at this point. Pull back from 0.6870 short term top is in progress. But strong support would be seen from channel support (now at 0.6677) to bring rebound. On the upside, above 0.6759 minor resistance will turn bias back to the upside for retesting 0.6870. However, sustained break of 0.6689 will bring deeper decline to 55 D EMA (now at 0.6612).
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.
 to bring rebound. On the upside, above 0.6759 minor resistance will turn bias back to the upside for retesting 0.6870. However, sustained break of 0.6689 will bring deeper decline to 55 D EMA (now at 0.6612).){kind=link}