Daily Pivots: (S1) 0.6690; (P) 0.6711; (R1) 0.6726; More...
AUD/USD’s fall from 0.6941 resumed by breaking through 0.6701 temporary low. Intraday bias is back on the downside for 0.6621 support. Decisive break there will pave the way back to 0.6348 support next. On the upside, above 0.6758 minor resistance will turn intraday bias neutral again first.
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 100% projection of 0.6269 to 0.6870 from 0.6340 at 0.6941 will target 138.2% projection at 0.7179. However, break of 0.6621 support will argue that rise from 0.6269 has completed and bring deeper fall back to 0.6269/6348 support zone.
