Daily Pivots: (S1) 0.6523; (P) 0.6543; (R1) 0.6556; More...
AUD/USD’s fall from 0.6798 resumes today and hits as low as 0.6479 so far. Intraday bias is back on the downside for 0.6361 support first. Firm break there will target 0.6269 low. On the upside though, above 0.6567 resistance will turn intraday bias neutral first.
In the bigger picture, overall, price actions from 0.6169 (2022 low) are seen as a medium term corrective pattern, with fall from 0.6798 as another falling leg. Deeper fall could be seen to the lower side of the range between 0.6169/6361. But strong support should be seen there to contain downside. For now, risk will stay on the downside as long as 0.6798 resistance holds, in case of rebound.
