Daily Pivots: (S1) 0.7078; (P) 0.7110; (R1) 0.7159; More...
Intraday bias in AUD/USD remains on the upside for the moment. Current up trend should target 100% projection of 0.5913 to 0.6706 from 0.6420 at 0.7213. On the downside, below 0.7063 minor support will turn intraday bias neutral again. But retreat should be contained above 0.6896 support to bring another rally.
In the bigger picture, current development argues that rise from 0.5913 (2024 low) is reversing whole down trend from 0.8006 (2021 high). Further rally should be seen to 61.8% retracement of 0.8006 to 0.5913 at 0.7206. This will remain the favored case as long as 0.6706 resistance turned support holds, even in case of deep pullback.
