AUD/USD Daily Report

Daily Pivots: (S1) 0.6549; (P) 0.6562; (R1) 0.6572; More…

AUD/USD’s fall from 0.6666 is in progress and intraday bias stays on the downside for 0.6476 support. Break there will argue that decline from 0.6870 is ready to resume through 0.6442 low. On the upside, break of 0.6583 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 0.6666 resistance holds.

In the bigger picture, price actions from 0.6169 (2022 low) are seen as a medium term corrective pattern to the down trend from 0.8006 (2021 high). Fall from 0.7156 (2023 high) is seen as the second leg, which might still be in progress. Overall, sideway trading could continue in range of 0.6169/7156 for some more time. But as long as 0.7156 holds, an eventual downside breakout would be mildly in favor.

AUD/USD Daily Report

Daily Pivots: (S1) 0.6546; (P) 0.6566; (R1) 0.6579; More…

Intraday bias in AUD/USD stays on the downside as fall from 0.6666 short term top is in progress. Deeper decline would be seen to 0.6476 support first. Break there will argue that decline from 0.6870 is ready to resume through 0.6442 low. On the upside, break of 0.6629 minor resistance will turn bias back to the upside to extend the rebound from 0.6442 instead.

In the bigger picture, price actions from 0.6169 (2022 low) are seen as a medium term corrective pattern to the down trend from 0.8006 (2021 high). Fall from 0.7156 (2023 high) is seen as the second leg, which might still be in progress. Overall, sideway trading could continue in range of 0.6169/7156 for some more time. But as long as 0.7156 holds, an eventual downside breakout would be mildly in favor.

AUD/USD Weekly Report

AUD/USD’s fall from 0.6666 extended last week and confirm short term topping. Initial bias remains on the downside for 0.6476 support first. Break there will argue that decline from 0.6870 is ready to resume through 0.6442 low. On the upside, break of 0.6629 minor resistance will turn bias back to the upside to extend the rebound from 0.6442 instead.

In the bigger picture, price actions from 0.6169 (2022 low) are seen as a medium term corrective pattern to the down trend from 0.8006 (2021 high). Fall from 0.7156 (2023 high) is seen as the second leg, which might still be in progress. Overall, sideway trading could continue in range of 0.6169/7156 for some more time. But as long as 0.7156 holds, an eventual downside breakout would be mildly in favor.

In the long term picture, the down trend from 1.1079 (2011 high) should have completed at 0.5506 (2020 low) already. It’s unsure yet whether price actions from 0.5506 are developing into a corrective pattern, or trend reversal. But in either case, fall from 0.8006 is seen the second leg of the pattern. Hence, in case of deeper decline, strong support should emerge above 0.5506 to bring reversal.

AUD/USD Daily Report

Daily Pivots: (S1) 0.6557; (P) 0.6594; (R1) 0.6619; More…

AUD/USD’s break of 55 4H EMA (now at 0.6585) argues that corrective recovery from 0.6442 has completed with three waves up to 0.6666. Intraday bias is back on the downside for 0.6476 support first. Break there will argue that decline from 0.6870 is ready to resume. On the upside, break of 0.6629 minor resistance will turn bias back to the upside to extend the rebound from 0.6442 instead.

In the bigger picture, price actions from 0.6169 (2022 low) are seen as a medium term corrective pattern to the down trend from 0.8006 (2021 high). Fall from 0.7156 (2023 high) is seen as the second leg, which might still be in progress. Overall, sideway trading could continue in range of 0.6169/7156 for some more time. But as long as 0.7156 holds, an eventual downside breakout would be mildly in favor.

AUD/USD Daily Report

Daily Pivots: (S1) 0.6603; (P) 0.6619; (R1) 0.6638; More…

Intraday bias in AUD/USD remains neutral and outlook is unchanged. Another rise will be mildly in favor as long as 55 4H EMA (now at 0.6586) holds. Above 0.6666 will resume the rebound from 0.6442 to 61.8% retracement of 0.6877 to 0.6442 at 0.6707 next. Sustained trading above there will argue rise from 0.6442 is probably resuming whole rally from 0.6269. Nevertheless, sustained break of 55 4H EMA will revive near term bearishness and bring retest of 0.6442 low instead.

In the bigger picture, price actions from 0.6169 (2022 low) are seen as a medium term corrective pattern to the down trend from 0.8006 (2021 high). Fall from 0.7156 (2023 high) is seen as the second leg, which might still be in progress. Overall, sideway trading could continue in range of 0.6169/7156 for some more time. But as long as 0.7156 holds, an eventual downside breakout would be mildly in favor.

AUD/USD Daily Report

Daily Pivots: (S1) 0.6581; (P) 0.6610; (R1) 0.6635; More…

Intraday bias in AUD/USD stays neutral at this point. Another rise will be mildly in favor as long as 55 4H EMA (now at 0.6577) holds. Above 0.6666 will resume the rebound from 0.6442 to 61.8% retracement of 0.6877 to 0.6442 at 0.6707 next. Sustained trading above there will argue rise from 0.6442 is probably resuming whole rally from 0.6269. Nevertheless, sustained break of 55 4H EMA will revive near term bearishness and bring retest of 0.6442 low instead.

In the bigger picture, price actions from 0.6169 (2022 low) are seen as a medium term corrective pattern to the down trend from 0.8006 (2021 high). Fall from 0.7156 (2023 high) is seen as the second leg, which might still be in progress. Overall, sideway trading could continue in range of 0.6169/7156 for some more time. But as long as 0.7156 holds, an eventual downside breakout would be mildly in favor.

AUD/USD Daily Report

Daily Pivots: (S1) 0.6598; (P) 0.6613; (R1) 0.6629; More…

Intraday bias in AUD/USD remains neutral as consolidation continues below 0.6666 temporary top. Another rise will be mildly in favor as long as 55 4H EMA (now at 0.6569) holds. Above 0.6666 will resume the rebound from 0.6442 to 61.8% retracement of 0.6877 to 0.6442 at 0.6707 next. Sustained trading above there will argue rise from 0.6442 is probably resuming whole rally from 0.6269. Nevertheless, sustained break of 55 4H EMA will revive near term bearishness and bring retest of 0.6442 low instead.

In the bigger picture, price actions from 0.6169 (2022 low) are seen as a medium term corrective pattern to the down trend from 0.8006 (2021 high). Fall from 0.7156 (2023 high) is seen as the second leg, which might still be in progress. Overall, sideway trading could continue in range of 0.6169/7156 for some more time. But as long as 0.7156 holds, an eventual downside breakout would be mildly in favor.

AUD/USD Daily Report

Daily Pivots: (S1) 0.6602; (P) 0.6635; (R1) 0.6657; More…

Intraday bias in AUD/USD is turned neutral first with current retreat. Another rise will be mildly in favor as long as 55 4H EMA (now at 0.6561) holds. Above 0.6666 will resume the rebound from 0.6442 to 61.8% retracement of 0.6877 to 0.6442 at 0.6707 next. Sustained trading above there will argue rise from 0.6442 is probably resuming whole rally from 0.6269. Nevertheless, sustained break of 55 4H EMA will revive near term bearishness and bring retest of 0.6442 low instead.

In the bigger picture, price actions from 0.6169 (2022 low) are seen as a medium term corrective pattern to the down trend from 0.8006 (2021 high). Fall from 0.7156 (2023 high) is seen as the second leg, which might still be in progress. Overall, sideway trading could continue in range of 0.6169/7156 for some more time. But as long as 0.7156 holds, an eventual downside breakout would be mildly in favor.

AUD/USD Weekly Report

AUD/USD’s rebound from 0.6442 resumed last week and hit as high as 0.6666. Initial bias remains mildly on the upside this week for 61.8% retracement of 0.6877 to 0.6442 at 0.6707 next. Sustained trading above there will argue rise from 0.6442 is probably resuming whole rally from 0.6269. Nevertheless, rejection by 0.6707, followed by sustained break of 55 4H EMA (now at 0.6553) will revive near term bearishness and bring retest of 0.6442 low instead.

In the bigger picture, price actions from 0.6169 (2022 low) are seen as a medium term corrective pattern to the down trend from 0.8006 (2021 high). Fall from 0.7156 (2023 high) is seen as the second leg, which might still be in progress. Overall, sideway trading could continue in range of 0.6169/7156 for some more time. But as long as 0.7156 holds, an eventual downside breakout would be mildly in favor.

In the long term picture, the down trend from 1.1079 (2011 high) should have completed at 0.5506 (2020 low) already. It’s unsure yet whether price actions from 0.5506 are developing into a corrective pattern, or trend reversal. But in either case, fall from 0.8006 is seen the second leg of the pattern. Hence, in case of deeper decline, strong support should emerge above 0.5506 to bring reversal.

AUD/USD Daily Report

Daily Pivots: (S1) 0.6580; (P) 0.6602; (R1) 0.6643; More…

AUD/USD’s rebound extends to as high as 0.6629 so far today, breaking 38.2% retracement of 0.6877 to 0.6442 at 0.6605. Current upside acceleration as seen in 4H MACD indicates that further rally is underway. Intraday bias stays on the upside for 61.8% retracement at 0.6707 next. On the downside, below 0.6580 minor support will turn intraday bias neutral first.

In the bigger picture, price actions from 0.6169 (2022 low) are seen as a medium term corrective pattern to the down trend from 0.8006 (2021 high). Fall from 0.7156 (2023 high) is seen as the second leg, which might still be in progress. Overall, sideway trading could continue in range of 0.6169/7156 for some more time. But as long as 0.7156 holds, an eventual downside breakout would be mildly in favor.

AUD/USD Daily Report

Daily Pivots: (S1) 0.6511; (P) 0.6547; (R1) 0.6600; More…

AUD/USD’s strong rebound suggests that corrective pattern from 0.6442 is extending with another leg. While further rise cannot be ruled out, upside should be limited by 38.2% retracement of 0.6877 to 0.6442 at 0.6605. Break of 0.6476 support will argue that fall from 0.6870 is ready to resume through 0.6442 low. However, sustained break of 0.6605 will dampen this bearish view and bring stronger rise to 61.8% retracement at 0.6707 instead.

In the bigger picture, price actions from 0.6169 (2022 low) are seen as a medium term corrective pattern to the down trend from 0.8006 (2021 high). Fall from 0.7156 (2023 high) is seen as the second leg, which might still be in progress. Overall, sideway trading could continue in range of 0.6169/7156 for some more time. But as long as 0.7156 holds, an eventual downside breakout would be mildly in favor.

AUD/USD Daily Report

Daily Pivots: (S1) 0.6481; (P) 0.6501; (R1) 0.6524; More…

AUD/USD recovered after brief dip to 0.6476 and intraday bias is turned neutral first. Outlook will stay bearish as long as 0.6594 resistance holds. Below 0.6476 will bring retest of 0.6442 low first. Firm break there e will resume whole decline from 0.6870 for 61.8% projection of 0.6870 to 0.6442 from 0.6594 at 0.6329.

In the bigger picture, price actions from 0.6169 (2022 low) are seen as a medium term corrective pattern to the down trend from 0.8006 (2021 high). Fall from 0.7156 (2023 high) is seen as the second leg, which might still be in progress. Overall, sideway trading could continue in range of 0.6169/7156 for some more time. But as long as 0.7156 holds, an eventual downside breakout would be mildly in favor.

AUD/USD Mid-Day Report

Daily Pivots: (S1) 0.6499; (P) 0.6517; (R1) 0.6528; More…

Intraday bias in AUD/USD is back on the downside with break of 0.6486 temporary low. Retest of 0.6442 support should be seen next. Firm break there will resume whole decline from 0.6870 for 61.8% projection of 0.6870 to 0.6442 from 0.6594 at 0.6329. On the upside, above 0.6534 minor resistance will turn intraday bias neutral again first. But outlook will stay bearish as long as 0.6594 resistance holds, in case of recovery.

In the bigger picture, price actions from 0.6169 (2022 low) are seen as a medium term corrective pattern to the down trend from 0.8006 (2021 high). Fall from 0.7156 (2023 high) is seen as the second leg, which might still be in progress. Overall, sideway trading could continue in range of 0.6169/7156 for some more time. But as long as 0.7156 holds, an eventual downside breakout would be mildly in favor.

AUD/USD Daily Report

Daily Pivots: (S1) 0.6499; (P) 0.6517; (R1) 0.6528; More…

Intraday bias in AUD/USD stays neutral for the moment, and further decline is expected with 0.6594 resistance intact. On the downside, below 0.6486 will target a retest on 0.6442 first. Firm break there will resume whole decline from 0.6870 for 61.8% projection of 0.6870 to 0.6442 from 0.6594 at 0.6329 next. However, on the upside, break of 0.6594 will resume the rebound from 0.6442 and turn bias back to the upside instead.

In the bigger picture, price actions from 0.6169 (2022 low) are seen as a medium term corrective pattern to the down trend from 0.8006 (2021 high). Fall from 0.7156 (2023 high) is seen as the second leg, which might still be in progress. Overall, sideway trading could continue in range of 0.6169/7156 for some more time. But as long as 0.7156 holds, an eventual downside breakout would be mildly in favor.

AUD/USD Daily Report

Daily Pivots: (S1) 0.6499; (P) 0.6517; (R1) 0.6543; More…

Intraday bias in AUD/USD remains neutral for consolidations above 0.6486 temporary low. But further decline is expected as long as 0.6594 resistance holds. On the downside, below 0.6486 will target a retest on 0.6442 first. Firm break there will resume whole decline from 0.6870. However, on the upside, break of 0.6594 will resume the rebound from 0.6442 and turn bias back to the upside instead.

In the bigger picture, price actions from 0.6169 (2022 low) are seen as a medium term corrective pattern to the down trend from 0.8006 (2021 high). Fall from 0.7156 (2023 high) is seen as the second leg, which might still be in progress. Overall, sideway trading could continue in range of 0.6169/7156 for some more time. But as long as 0.7156 holds, an eventual downside breakout would be mildly in favor.

AUD/USD Weekly Report

AUD/USD’s decline argues that corrective recovery from 0.6442 has completed at 0.6594. But as a temporary low was formed at 0.6486, initial bias is neutral this week first. On the downside, below 0.6486 will target a retest on 0.6442 first. Firm break there will resume whole decline from 0.6870. However, on the upside, break of 0.6594 will resume the rebound from 0.6442 and turn bias back to the upside instead.

In the bigger picture, price actions from 0.6169 (2022 low) are seen as a medium term corrective pattern to the down trend from 0.8006 (2021 high). Fall from 0.7156 (2023 high) is seen as the second leg, which might still be in progress. Overall, sideway trading could continue in range of 0.6169/7156 for some more time. But as long as 0.7156 holds, an eventual downside breakout would be mildly in favor.

In the long term picture, the down trend from 1.1079 (2011 high) should have completed at 0.5506 (2020 low) already. It’s unsure yet whether price actions from 0.5506 are developing into a corrective pattern, or trend reversal. But in either case, fall from 0.8006 is seen the second leg of the pattern. Hence, in case of deeper decline, strong support should emerge above 0.5506 to bring reversal.

AUD/USD Daily Report

Daily Pivots: (S1) 0.6479; (P) 0.6505; (R1) 0.6523; More…

Intraday bias in AUD/USD is turned neutral with a temporary low formed at 0.6486. Outlook is unchanged that recovery from 0.6442 has completed at 0.6594. Risk will stay on the downside as long as this resistance holds. Below 0.6486 will bring retest of 0.6442 support first. Firm break there will resume whole decline from 0.6870, and target 61.8% projection of 0.6870 to 0.6442 from 0.6594 at 0.6329 next.

In the bigger picture, price actions from 0.6169 (2022 low) are seen as a medium term corrective pattern to the down trend from 0.8006 (2021 high). Fall from 0.7156 (2023 high) is seen as the second leg, which might still be in progress. Overall, sideway trading could continue in range of 0.6169/7156 for some more time. But as long as 0.7156 holds, an eventual downside breakout would be mildly in favor.

AUD/USD Daily Report

Daily Pivots: (S1) 0.6473; (P) 0.6512; (R1) 0.6534; More…

Intraday bias AUD/USD remains mildly on the downside for retesting 0.6442 support first. Firm break there will resume whole decline from 0.6870, and target 61.8% projection of 0.6870 to 0.6442 from 0.6594 at 0.6329 next. On the upside, above 0.6524 minor resistance will turn intraday bias neutral first. But risk will stay on the downside as long as 0.6594 resistance holds, in case of recovery.

In the bigger picture, price actions from 0.6169 (2022 low) are seen as a medium term corrective pattern to the down trend from 0.8006 (2021 high). Fall from 0.7156 (2023 high) is seen as the second leg, which might still be in progress. Overall, sideway trading could continue in range of 0.6169/7156 for some more time. But as long as 0.7156 holds, an eventual downside breakout would be mildly in favor.

AUD/USD Daily Report

Daily Pivots: (S1) 0.6527; (P) 0.6542; (R1) 0.6560; More…

AUD/USD’s break of 0.6520 minor support suggests that corrective rebound from 0.6442 haws completed at 0.6594 already, after rejection by 55 D EMA. Intraday bias is back on the downside for retesting 0.6442 low first. Firm break there will resume whole decline from 0.6870, and target 61.8% projection of 0.6870 to 0.6442 from 0.6594 at 0.6329 next. For now, risk will stay on the downside as long as 0.6594 resistance holds, in case of recovery.

In the bigger picture, price actions from 0.6169 (2022 low) are seen as a medium term corrective pattern to the down trend from 0.8006 (2021 high). Fall from 0.7156 (2023 high) is seen as the second leg, which might still be in progress. Overall, sideway trading could continue in range of 0.6169/7156 for some more time. But as long as 0.7156 holds, an eventual downside breakout would be mildly in favor.

AUD/USD Daily Report

Daily Pivots: (S1) 0.6525; (P) 0.6546; (R1) 0.6561; More…

Intraday bias in AUD/USD stays neutral at this point. While recovery from 0.6442 could extend higher, outlook will remain bearish as long as 0.6621 resistance holds. On the downside, below 0.6520 minor support will turn bias to the downside for retesting 0.6442. Nevertheless, considering bullish convergence condition in 4H MACD, decisive break of 0.6621 will turn near term outlook bullish for 0.6870 resistance instead.

In the bigger picture, price actions from 0.6169 (2022 low) are seen as a medium term corrective pattern to the down trend from 0.8006 (2021 high). Fall from 0.7156 (2023 high) is seen as the second leg, which might still be in progress. Overall, sideway trading could continue in range of 0.6169/7156 for some more time. But as long as 0.7156 holds, an eventual downside breakout would be mildly in favor.