Daily Pivots: (S1) 0.6415; (P) 0.6477; (R1) 0.6515; More…
Intraday bias in AUD/USD stays on the downside for the moment. Firm break of 0.6461 long term fibonacci level will target 100% projection of 0.7660 to 0.6680 from 0.7135 at 0.6155. On the upside, above 0.6573 minor resistance will turn intraday bias neutral and bring consolidations, before staging another decline.
In the bigger picture, down trend form 0.8006 (2021 high) is expected to continue as long as 0.7135 resistance holds. 61.8% retracement of 0.5506 (2020 low) to 0.8006 at 0.6461 is already met. Sustained break there will pave the way back to retest 0.5506.
