Daily Pivots: (S1) 0.6603; (P) 0.6625; (R1) 0.6637; More...
AUD/USD’s fall from 0.6798 continues today and intraday bias remains on the downside. Rise from 0.6361 might have completed already. Deeper fall would now be seen to 61.8% retracement of 0.6361 to 0.6798 at 0.6528. On the upside, above 0.6645 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another fall.
In the bigger picture, overall, price actions from 0.6169 (2022 low) are seen as a medium term corrective pattern, which is still extending. Break of 0.66870 resistance will extend the rising leg from 0.6269 towards 0.7156 (2023 high). However, break firm break of 0.6619 support will argue that another falling leg has started back towards lower side of the range between 0.6169/6361.
