AUD/USD Daily Report

Daily Pivots: (S1) 0.6730; (P) 0.6745; (R1) 0.6760; More...

A temporary top should be in place at 0.6760 in AUD/USD with 4H MACD crossed below signal line. Intraday bias is turned neutral for consolidations first. Downside of retreat should be contained by 55 4H EMA (now at 0.6664) to bring rebound. Above 0.6760 will target 0.6798 resistance next. Firm break there will argue that larger rise from 0.6269 is ready to resume through 0.6870 resistance.

In the bigger picture, overall, price actions from 0.6169 (2022 low) are seen as a medium term corrective pattern. Rise from 0.6340 is likely developing into another rising leg. Firm break of 0.6798/6870 resistance zone will target 0.7156 resistance. In case of another fall, strong support should be seen from 0.6169/6361 to bring rebound.

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