Daily Pivots: (S1) 0.6776; (P) 0.6800; (R1) 0.6822; More...
AUD//USD continues to lose upside moment as seen in 4H MACD, but there is no clear sign of topping yet. Further rally is expected as long as 06696 support holds. Current rally should target 0.6870 resistance. Firm break there will target 100% projection of 0.6269 to 0.6870 from 0.6348 at 0.6949. However, break of 0.6696 will indicate short term topping, and turn bias back to the downside for deeper pullback.
In the bigger picture, overall, price actions from 0.6169 (2022 low) are seen as a medium term corrective pattern, with rise from 0.6269 as the third leg. Firm break of 0.6798/6870 resistance zone will target 0.7156 resistance. In case of another fall, strong support should be seen from 0.6169/6361 to bring rebound.
