Daily Pivots: (S1) 0.6841; (P) 0.6873; (R1) 0.6927; More...
Intraday bias n AUD/USD remains neutral for the moment, and more consolidations could be seen below 0.6907. But further rally is expected as long as 0.6782 support holds. Firm break of 61.8% projection of 0.6348 to 0.6823 from 0.6621 at 0.6915 will extend the rise from 0.6348 to 100% projection at 0.7096 next.
In the bigger picture, overall, price actions from 0.6169 (2022 low) are seen as a medium term corrective pattern, with rise from 0.6269 as the third leg. Firm break of 0.6870 resistance will target 100% projection of 0.6269 to 0.6870 from 0.6340 at 0.6941, and then 138.2% projection at 0.7179. This will now remain the favored case as long as 0.6621 support holds.
