Daily Pivots: (S1) 0.6566; (P) 0.6585; (R1) 0.6606; More...
Intraday bias in AUD/USD stays mildly on the upside despite loss in momentum as seen in 4H MACD. Sustained break of 55 D EMA (now at 0.6612) will target 0.6798 resistance. On the downside, break of 0.6506 minor support will indicate rejection by the 55 D EMA, and turn bias back to the downside for retesting 0.6348 instead.
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. Meanwhile, break of 0.6798 will target upper side of the range at 0.7156.
 will target 0.6798 resistance. On the downside, break of 0.6506 minor support will indicate rejection by the 55 D EMA, and turn bias back to the downside for retesting 0.6348 instead.){kind=link}