Daily Pivots: (S1) 0.6596; (P) 0.6617; (R1) 0.6655; More...
AUD/USD’s rally from 0.6438 is still in progress and intraday bias stays on the upside. With break of 55 D EMA (now at 0.6612), next target is 0.6798 resistance. On the downside, below 0.6564 minor support will turn intraday bias neutral first.
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. Meanwhile, break of 0.6798 will target upper side of the range at 0.7156.
, next target is 0.6798 resistance. On the downside, below 0.6564 minor support will turn intraday bias neutral first.){kind=link}