Intraday bias in AUD/USD is back on the downside with breach of 0.6853 temporary low. Sustained trading below 61.8% projection of 0.7237 to 0.6893 from 0.7067 at at 0.6854 will pave the way to 100% projection at 0.6723. On the upside, above 0.6930 will turn bias neutral again first.
In the bigger picture, price action from 0.7277 medium term top is seen as developing into a corrective pattern to rise from 0.5913. While deeper pullback cannot be ruled out, downside should be contained by 38.2% retracement of 0.5913 to 0.7277 at 0.6756 to bring rebound. Consolidations would continue below 0.7277 for a while, before an eventual upside breakout. However, sustained break of 0.6756 will raise the chance of larger bearish reversal.
