Sun, Nov 18, 2018 @ 16:17 GMT

AUD/USD Weekly Outlook

AUD/USD drew strong support from 55 day EMA and rebounded last week. Initial focus is back on 0.7314 resistance this week. Sustained break there will indicate medium term reversal. Further rally should be seen to 38.2% retracement of 0.8135 to 0.7020 at 0.7446 next. Nevertheless, failure to sustain above 0.7314, and break of 0.7164 support will retain bearishness and turn bias back to the downside for retesting 0.7020 low.

In the bigger picture, AUD/USD’s decline from 0.8135 could have completed at 0.7020 already, ahead of 0.6826 key support (2016 low). Break of 0.7314 will confirm and bring strong rebound. But for now, we’d expect strong resistance from 0.7500 support turned resistance to limit upside. Medium term fall from 0.8135 should extend to take on 0.6826 low at a later stage.

In the longer term picture, the corrective structure of rebound from 0.6826 (2016 low) to 0.8135, and the failure to break 38.2% retracement of 1.1079 (2011 high) to 0.6826 at 0.8451, carry bearish implications. AUD/USD was also rejected by 55 month EMA. Now, the down trend from 1.1079 is in favor to extend. On break of 0.6826, next target will be 61.8% projection of 1.1079 to 0.6826 from 0.8135 at 0.5507.

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7236; (P) 0.7268; (R1) 0.7307; More…

Intraday bias in AUD/USD remains neutral as it’s staying in range below 0.7314 key resistance. On the upside, decisive break of 0.7314 will indicate medium term reversal. Further rally should be seen to 38.2% retracement of 0.8135 to 0.7020 at 0.7446 next. However, break of 0.7164 will suggest that rebound from 0.7020 has completed. In this case, medium term bearishness will be maintained. Intraday bias would be turned back to the downside for retesting 0.7020 low.

In the bigger picture, as long as 0.7314 resistance holds, fall from 0.8135 is tentatively treated as resuming long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 will target 0.6008 key support next (2008 low). However, firm break of 0.7314 will suggest that whole decline from 0.8135 has completed. And, the corrective pattern from 0.6826 (2016 low) is extending with another rising leg towards 0.8135 before completion.

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7195; (P) 0.7225; (R1) 0.7262; More…

AUD/USD rebounds strongly today but stays below 0.7302 temporary top. Intraday bias remains neutral first. On the upside, decisive break of 0.7314 will indicate medium term reversal. Further rally should be seen to 38.2% retracement of 0.8135 to 0.7020 at 0.7446 next. However, break of 0.7164 will suggest that rebound from 0.7020 has completed and maintain medium term bearishness. Intraday bias would be turned back to the downside for retesting 0.7020 low.

In the bigger picture, as long as 0.7314 resistance holds, fall from 0.8135 is tentatively treated as resuming long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 will target 0.6008 key support next (2008 low). However, firm break of 0.7314 will suggest that whole decline from 0.8135 has completed. And, the corrective pattern from 0.6826 (2016 low) is extending with another rising leg towards 0.8135 before completion.

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7181; (P) 0.7202; (R1) 0.7241; More…

Intraday bias in AUD/USD remains neutral for the moment. On the upside, decisive break of 0.7314 will indicate medium term reversal. Further rally should be seen to 38.2% retracement of 0.8135 to 0.7020 at 0.7446 next. However, break of 0.7164 will suggest that rebound from 0.7020 has completed and maintain medium term bearishness. Intraday bias would be turned back to the downside for retesting 0.7020 low.

In the bigger picture, as long as 0.7314 resistance holds, fall from 0.8135 is tentatively treated as resuming long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 will target 0.6008 key support next (2008 low). However, firm break of 0.7314 will suggest that whole decline from 0.8135 has completed. And, the corrective pattern from 0.6826 (2016 low) is extending with another rising leg towards 0.8135 before completion.

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7151; (P) 0.7194; (R1) 0.7217; More…

Despite breaching 0.7182 minor support to 0.7164, AUD/USD quickly recovered. Intraday bias remains neutral first. On the upside, decisive break of 0.7314 will indicate medium term reversal. Further rally should be seen to 38.2% retracement of 0.8135 to 0.7020 at 0.7446 next. However, break of 0.7164 will suggest that rebound from 0.7020 has completed and maintain medium term bearishness. Intraday bias would be turned back to the downside for retesting 0.7020 low.

In the bigger picture, as long as 0.7314 resistance holds, fall from 0.8135 is tentatively treated as resuming long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 will target 0.6008 key support next (2008 low). However, firm break of 0.7314 will suggest that whole decline from 0.8135 has completed. And, the corrective pattern from 0.6826 (2016 low) is extending with another rising leg towards 0.8135 before completion.

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7208; (P) 0.7239; (R1) 0.7260; More…

Intraday bias in AUD/USD remains neutral at this point. On the upside, decisive break of 0.7314 will indicate medium term reversal. Further rally should be seen to 38.2% retracement of 0.8135 to 0.7020 at 0.7446 next. However, break of 0.7182 will suggests that rebound from 0.7020 has completed and maintain medium term bearishness. Intraday bias would be turned back to the downside for retesting 0.7020 low.

In the bigger picture, as long as 0.7314 resistance holds, fall from 0.8135 is tentatively treated as resuming long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 will target 0.6008 key support next (2008 low). However, firm break of 0.7314 will suggest that whole decline from 0.8135 has completed. And, the corrective pattern from 0.6826 (2016 low) is extending with another rising leg towards 0.8135 before completion.

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AUD/USD Weekly Outlook

AUD/USD rose to as high as 0.7302 last week but retreated ahead of 0.7314 key resistance. Initial bias is neutral this week first. ON the upside, decisive break of 0.7314 will indicate medium term reversal. Further rally should be seen to 38.2% retracement of 0.8135 to 0.7020 at 0.7446 next. However, break of 0.7182 will suggests that rebound from 0.7020 has completed and maintain medium term bearishness. Intraday bias would be turned back to the downside for retesting 0.7020 low.

In the bigger picture, as long as 0.7314 resistance holds, fall from 0.8135 is tentatively treated as resuming long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 will target 0.6008 key support next (2008 low). However, firm break of 0.7314 will suggest that whole decline from 0.8135 has completed. And, the corrective pattern from 0.6826 (2016 low) is extending with another rising leg towards 0.8135 before completion.

In the longer term picture, the corrective structure of rebound from 0.6826 (2016 low) to 0.8135, and the failure to break 38.2% retracement of 1.1079 (2011 high) to 0.6826 at 0.8451, carry bearish implications. AUD/USD was also rejected by 55 month EMA. Now, the down trend from 1.1079 is in favor to extend. On break of 0.6826, next target will be 61.8% projection of 1.1079 to 0.6826 from 0.8135 at 0.5507.

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7235; (P) 0.7269; (R1) 0.7290; More…

A temporary top is in place at 0.7302, ahead of 0.7314 key resistance. Intraday bias in AUD/USD is turned neutral first. Another rise is mildly in favor as long as 0.7182 minor support holds. Decisive break of 0.7314 will confirm medium term bottoming at 0.7020. In that case, next target will be 38.2% retracement of 0.8135 to 0.7020 at 0.7446. However, on the downside, break of 0.7182 minor support will suggest that the rebound is completed. And, intraday bias will be turned back to the downside for 0.7020 low.

In the bigger picture, as long as 0.7314 resistance holds, fall from 0.8135 is tentatively treated as resuming long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 will target 0.6008 key support next (2008 low). However, firm break of 0.7314 will suggest that whole decline from 0.8135 has completed. And, the corrective pattern from 0.6826 (2016 low) is extending with another rising leg towards 0.8135 before completion.

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7226; (P) 0.7263; (R1) 0.7314; More…

AUD/USD’s rally is still in progress and intraday bias stays on the upside, with focus on 0.7314 key resistance. As noted before, a medium term bottom might be in place at 0.7020 already. Decisive break of 0.7314 should confirm this bullish case. Next target will be 38.2% retracement of 0.8135 to 0.7020 at 0.7446 next. However, on the downside, break of 0.7182 minor support will suggest that the rebound is completed. In that case, intraday bias will turn bias back to the downside for 0.7020 low.

In the bigger picture, as long as 0.7314 resistance holds, fall from 0.8135 is tentatively treated as resuming long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 will target 0.6008 key support next (2008 low). However, firm break of 0.7314 will suggest that whole decline from 0.8135 has completed. And, the corrective pattern from 0.6826 (2016 low) is extending with another rising leg towards 0.8135 before completion.

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AUD/USD Mid-Day Outlook

Daily Pivots: (S1) 0.7217; (P) 0.7232; (R1) 0.7260; More…

AUD/USD’s rally extends to as high as 0.7299 so far. Intraday bias stays on the upside for 0.7314 resistance. As noted before, a medium term bottom might be in place at 0.7020 already. Decisive break of 0.7314 should confirm this bullish case. Next target will be 38.2% retracement of 0.8135 to 0.7020 at 0.7446 next. However, on the downside, break of 0.7182 minor support will turn focus back to 0.7020 low instead.

In the bigger picture, as long as 0.7314 resistance holds, fall from 0.8135 is tentatively treated as resuming long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 will target 0.6008 key support next (2008 low). However, firm break of 0.7314 will suggest that whole decline from 0.8135 has completed. And, the corrective pattern from 0.6826 (2016 low) is extending with another rising leg towards 0.8135 before completion.

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7217; (P) 0.7232; (R1) 0.7260; More…

AUD/USD’s rebound from 0.7020 resumes by taking out 0.7258. Intraday bias is back on the upside for 0.7314 resistance. Current development argues that a medium term bottom might be in place at 0.7020. Firm break of 0.7314 will confirm this bullish case and target 38.2% retracement of 0.8135 to 0.7020 at 0.7446 next. However, on the downside, break of 0.7159 will turn focus back to 0.7020 low instead.

In the bigger picture, as long as 0.7314 resistance holds, fall from 0.8135 is tentatively treated as resuming long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 will target 0.6008 key support next (2008 low). However, firm break of 0.7314 will suggest that whole decline from 0.8135 has completed. And, the corrective pattern from 0.6826 (2016 low) is extending with another rising leg towards 0.8135 before completion.

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7188; (P) 0.7203; (R1) 0.7224; More…

AUD/USD is staying in tight range below 0.7258 temporary top. Intraday bias remains neutral and outlook is unchanged. With 0.7159 minor support intact, another rise is in favor. Current development argues that a medium term bottom might be in place at 0.7020. On the upside, above 0.7258 will target 0.7314 key resistance. Firm break of 0.7314 will confirm this bullish case and target 38.2% retracement of 0.8135 to 0.7020 at 0.7446 next. However, sustained break of 0.7159 will turn focus back to 0.7020 low instead.

In the bigger picture, as long as 0.7314 resistance holds, fall from 0.8135 is tentatively treated as resuming long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 will target 0.6008 key support next (2008 low). However, firm break of 0.7314 will suggest that whole decline from 0.8135 has completed. And, the corrective pattern from 0.6826 (2016 low) is extending with another rising leg towards 0.8135 before completion.

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7167; (P) 0.7213; (R1) 0.7244; More…

Intraday bias in AUD/USD is neutral for consolidation below 0.7258 temporary top. But with 0.7159 minor support intact, another rise is expected. Current development t argues that a medium term bottom might be in place at 0.7020. Firm break of 0.7314 resistance will confirm this bullish case and target 38.2% retracement of 0.8135 to 0.7020 at 0.7446 next. However, sustained break of 0.7159 will turn focus back to 0.7020 low instead.

In the bigger picture, as long as 0.7314 resistance holds, fall from 0.8135 is tentatively treated as resuming long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 will target 0.6008 key support next (2008 low). However, firm break of 0.7314 will suggest that whole decline from 0.8135 has completed. And, the corrective pattern from 0.6826 (2016 low) is extending with another rising leg towards 0.8135 before completion.

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AUD/USD Weekly Outlook

AUD/USD’s rebound from 0.70202 accelerated higher last week. The development argues that a medium term bottom might be in place. Further rise is expected this week as long as 0.7159 minor support holds. Firm break of 0.7314 resistance will confirm this bullish case and target 38.2% retracement of 0.8135 to 0.7020 at 0.7446 next. However, sustained break of 0.7159 will turn focus back to 0.7020 low instead.

In the bigger picture, as long as 0.7314 resistance holds, fall from 0.8135 is tentatively treated as resuming long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 will target 0.6008 key support next (2008 low). However, firm break of 0.7314 will suggest that whole decline from 0.8135 has completed. And, the corrective pattern from 0.6826 (2016 low) is extending with another rising leg towards 0.8135 before completion.

In the longer term picture, the corrective structure of rebound from 0.6826 (2016 low) to 0.8135, and the failure to break 38.2% retracement of 1.1079 (2011 high) to 0.6826 at 0.8451, carry bearish implications. AUD/USD was also rejected by 55 month EMA. Now, the down trend from 1.1079 is in favor to extend. On break of 0.6826, next target will be 61.8% projection of 1.1079 to 0.6826 from 0.8135 at 0.5507.

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7115; (P) 0.7164; (R1) 0.7256; More…

AUD/USD’s rally accelerates further to as high as 0.7250 so far today. The case for medium term reversal continues to build up, with bullish convergence condition in daily MACD and break of falling channel resistance. Intraday bias stays on the upside for 0.7314 resistance next. Decisive break there will confirm the bullish case. However, rejection from 0.7314, followed by break of 0.7159 resistance turned support, will retain bearishness and turn focus back to 0.7020 low.

In the bigger picture, fall from 0.8135 is tentatively treated as resuming long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 will target 0.6008 key support next (2008 low). On the upside, break of 0.7314 resistance is needed to indicate medium term bottoming. Otherwise, outlook stays bearish even in case of strong rebound. However, firm break of 0.7314 will suggest that whole decline from 0.8135 has completed and bring stronger rise back to 55 week EMA (now at 0.7467).

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AUD/USD Mid-Day Outlook

Daily Pivots: (S1) 0.7057; (P) 0.7083; (R1) 0.7097; More…

AUD/USD’s rebound from 0.7020 accelerates to as high as 0.7199 so far today. The solid break of 0.7159 resistance serves as the first sign of medium term reversal, on bullish convergence condition in 4 hour MACD. Intraday bias is now on the upside for 0.7314 resistance for confirmation. On the downside, though, 0.7122 minor support will retain bearishness and turn bias back to the downside for 0.7020 low.

In the bigger picture, fall from 0.8135 is tentatively treated as resuming long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 will target 0.6008 key support next (2008 low). On the upside, break of 0.7314 resistance is needed to indicate medium term bottoming. Otherwise, outlook stays bearish even in case of strong rebound.

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7057; (P) 0.7083; (R1) 0.7097; More…

AUD/USD’s rebound from 0.7020 extends further today but it’s kept below 0.7159 resistance. Intraday bias stays neutral for the moment with near term outlook staying bearish. On the downside, break of 0.7020 extend the down trend from 0.8135 towards 0.6826 low. However, firm break of 0.7159 will be a first sign of trend reversal, on bullish convergence condition in 4 hour MACD, and turn bias back to the upside for 0.7314 resistance.

In the bigger picture, fall from 0.8135 is tentatively treated as resuming long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 will target 0.6008 key support next (2008 low). On the upside, break of 0.7314 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook stays bearish even in case of strong rebound.

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7067; (P) 0.7094; (R1) 0.7135; More…

Intraday bias in AUD/USD remains neutral as sideway trading continue inside 0.7020/7159. As long as 0.7159 resistance holds, near term outlook will remain bearish and further decline is expected. Break of 0.7020 extend the down trend from 0.8135 towards 0.6826 low. However, firm break of 0.7159 will be a first sign of trend reversal, on bullish convergence condition in 4 hour MACD, and turn bias back to the upside for 0.7314 resistance.

In the bigger picture, fall from 0.8135 is tentatively treated as resuming long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 will target 0.6008 key support next (2008 low). On the upside, break of 0.7314 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook stays bearish even in case of strong rebound.

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7036; (P) 0.7072; (R1) 0.7094; More…

AUD/USD is staying in range of 0.7020/7159 and intraday bias remains neutral first. As long as 0.7159 resistance holds, near term outlook will remain bearish and further decline is expected. Break of 0.7020 extend the down trend from 0.8135 towards 0.6826 low. However, firm break of 0.7159 will be a first sign of trend reversal, on bullish convergence condition in 4 hour MACD, and turn bias back to the upside for 0.7314 resistance.

In the bigger picture, fall from 0.8135 is tentatively treated as resuming long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 will target 0.6008 key support next (2008 low). On the upside, break of 0.7314 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook stays bearish even in case of strong rebound.

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7037; (P) 0.7070; (R1) 0.7121; More…

Intraday bias in AUD/USD remains neutral at this point. As long as 0.7159 resistance holds, near term outlook will remain bearish and further decline is expected. Break of 0.7020 extend the down trend from 0.8135 towards 0.6826 low. However, firm break of 0.7159 will be a first sign of trend reversal, on bullish convergence condition in 4 hour MACD, and turn bias back to the upside for 0.7314 resistance.

In the bigger picture, fall from 0.8135 is tentatively treated as resuming long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 will target 0.6008 key support next (2008 low). On the upside, break of 0.7314 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook stays bearish even in case of strong rebound.

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