Daily Pivots: (S1) 0.6672; (P) 0.6693; (R1) 0.6707; More...
Intraday bias in AUD/USD remains on the downside. Fall from 0.6798 short term top is in progress for 38.2% retracement of 0.6361 to 0.6798 at 0.6631. Strong support would be seen there to bring rebound. On the upside, above 0.6714 minor resistance will turn bias back to the upside for retesting 0.6798. However, sustained break of 0.6631 will bring deeper fall to 61.8% retracement at 0.6528 instead.
In the bigger picture, price actions from 0.6169 (2022 low) are seen as a medium term corrective pattern to the down trend from 0.8006 (2021 high). Fall from 0.7156 (2023 high) is seen as the second leg, which could have completed at 0.6269 already. Rise from there is seen as the third leg. Break of 0.6870 will target 100% projection of 0.6269 to 0.6870 from 0.6361 at 0.6962.
