Daily Pivots: (S1) 0.6432; (P) 0.6443; (R1) 0.6465; More...
AUD/USD’s fall from 0.6941 is still in progress and intraday bias stays on the downside for 0.6348 support. Break there will target 0.6269 low next. Considering bullish convergence condition in 4H MACD, break of 0.6503 resistance will indicate short term bottoming, and turn bias to the upside for rebound to 55 D MA (now at 0.6580).
In the bigger picture, rise from 0.6269 (2023 low) should have completed with three waves up to 0.6941. Corrective pattern from 0.6169 (2022 low) is now extending with another falling leg. Deeper decline would be seen back to 0.6269 as sideway trading extends.
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