Daily Pivots: (S1) 0.6730; (P) 0.6770; (R1) 0.6797; More...
AUD/USD’s fall from 0.6941 short term top accelerates lower today and intraday bias stays on the downside. Sustained trading below 55 D EMA (now at 0.6744) should confirm rejection by 0.6941 fibonacci level, and bring deeper decline to 0.6621 support. On the upside, above 0.6809 minor resistance 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 rise from 0.6269 as the third leg. Firm break of 100% projection of 0.6269 to 0.6870 from 0.6340 at 0.6941 will target 138.2% projection at 0.7179. However, break of 0.6621 support will argue that rise from 0.6269 has completed and bring deeper fall back to 0.6269/6348 support zone.
 should confirm rejection by 0.6941 fibonacci level, and bring deeper decline to 0.6621 support. On the upside, above 0.6809 minor resistance will turn intraday bias neutral first.){kind=link}