Daily Pivots: (S1) 0.6494; (P) 0.6535; (R1) 0.6559; More...
Intraday bias in AUD/USD remains neutral as rebound from 0.6348 is still struggling to extend through 0.6567 resistance decisively. On the downside, break of 0.6472 minor support will retain near term bearishness and bring retest of 0.6348 low first. However, strong break of 0.6567 will bring stronger rally to 55 D EMA (now at 0.6616) and possibly above.
In the bigger picture, overall, price actions from 0.6169 (2022 low) are seen as a medium term corrective pattern, with fall from 0.6798 as another falling leg. Deeper fall could be seen to the lower side of the range between 0.6169/6361. But strong support should be seen there to contain downside. For now, risk will stay on the downside as long as 55 D EMA (now at 0.6617) holds, in case of rebound.
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