Daily Pivots: (S1) 0.5903; (P) 0.6016; (R1) 0.6098; More...
Intraday bias in AUD/USD remains neutral for consolidations above 0.5931 temporary low. Stronger rebound cannot be ruled out. But upside should be limited below 0.6218 support turned resistance to bring another fall. On the downside, break of 0.5931 will resume larger decline to 61.8% projection of 0.6941 to 0.6087 from 0.6388 at 0.5860.
In the bigger picture, fall from 0.6941 (2024 high) is seen as part of the down trend from 0.8006 (2021 high). Next medium term target is 61.8% projection of 0.8006 to 0.6169 from 0.6941 at 0.5806. In any case, outlook will stay bearish as long as 0.6388 resistance holds.
