Thu, Sep 20, 2018 @ 16:20 GMT

AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7223; (P) 0.7250; (R1) 0.7291; More…

Intraday bias in AUD/USD remains on the upside as the corrective rebound from 0.7084 extends. While further rally might be seen, upside should be limited well below 0.7361 resistance to bring down trend resumption. On the downside, break of 0.7143 minor support will bring retest of 0.7084 low first. Break ill resume whole decline from 0.8135. However, sustained break of 0.7361 will carry larger bullish implication.

In the bigger picture, rebound from 0.6826 (2016 low) is seen as a corrective move that should be completed at 0.8135. Fall from there would extend to have a test on 0.6826. There is prospect of resuming long term down trend from 1.1079 (2011 high). Current downside momentum as seen in daily and weekly MACD support this bearish case. Firm break of 0.6826 will target 0.6008 key support next (2008 low). On the upside, break of 0.7361 resistance, however, argues that a medium term bottom is possibly in place, and stronger rebound could follow. We’ll assess the medium term outlook later if this happens.

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7167; (P) 0.7195; (R1) 0.7248; More…

AUD/USD’s rebound from 0.7084 resumed by taking out 0.7228. Intraday bias is back on the upside for 55 day EMA (now at 0.7303). But still, such rebound is seen as a correction. Therefore upside should be limited well below 0.7361 resistance to bring down trend resumption. On the downside, break of 0.7143 minor support will bring retest of 0.7084 low first. Break ill resume whole decline from 0.8135. However, sustained break of 0.7361 will carry larger bullish implication.

In the bigger picture, rebound from 0.6826 (2016 low) is seen as a corrective move that should be completed at 0.8135. Fall from there would extend to have a test on 0.6826. There is prospect of resuming long term down trend from 1.1079 (2011 high). Current downside momentum as seen in daily and weekly MACD support this bearish case. Firm break of 0.6826 will target 0.6008 key support next (2008 low). On the upside, break of 0.7361 resistance, however, argues that a medium term bottom is possibly in place, and stronger rebound could follow. We’ll assess the medium term outlook later if this happens.

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7148; (P) 0.7172; (R1) 0.7203; More…

AUD/USD is staying in range of 0.7084/7228 and intraday bias remains neutral. Outlook is unchanged that rebound from 0.7084 short term bottom could extend through 0.7228. But it’s seen as a correction and upside should be limited well below 0.7361 resistance to bring down trend resumption. On the downside, break of 0.7084 will resume the fall from 0.8135 for key support level at 0.6826. However, sustained break of 0.7361 will carry larger bullish implication.

In the bigger picture, rebound from 0.6826 (2016 low) is seen as a corrective move that should be completed at 0.8135. Fall from there would extend to have a test on 0.6826. There is prospect of resuming long term down trend from 1.1079 (2011 high). Current downside momentum as seen in daily and weekly MACD support this bearish case. Firm break of 0.6826 will target 0.6008 key support next (2008 low). On the upside, break of 0.7361 resistance, however, argues that a medium term bottom is possibly in place, and stronger rebound could follow. We’ll assess the medium term outlook later if this happens.

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7130; (P) 0.7173; (R1) 0.7199; More…

Intraday bias in AUD/USD remains neutral at this point. Rebound form 0.7084 short term bottom could extend. But it’s seen as a correction and upside should be limited well below 0.7361 resistance to bring down trend resumption. On the downside, break of 0.7084 will resume the fall from 0.8135 for key support level at 0.6826. However, sustained break of 0.7361 will carry larger bullish implication.

In the bigger picture, rebound from 0.6826 (2016 low) is seen as a corrective move that should be completed at 0.8135. Fall from there would extend to have a test on 0.6826. There is prospect of resuming long term down trend from 1.1079 (2011 high). Current downside momentum as seen in daily and weekly MACD support this bearish case. Firm break of 0.6826 will target 0.6008 key support next (2008 low). On the upside, break of 0.7361 resistance, however, argues that a medium term bottom is possibly in place, and stronger rebound could follow. We’ll assess the medium term outlook later if this happens.

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AUD/USD Weekly Outlook

AUD/USD edged lower to 0.7084 last week but formed a short term bottom there and rebounded. With a temporary top in place at 0.7228, initial bias is neutral this week first. Another rise could be seen as the correction from 0.7084 extends. But upside should be limited well below 0.7361 resistance to bring down trend resumption. On the downside, break of 0.7084 will resume the fall from 0.8135 for key support level at 0.6826. However, sustained break of 0.7361 will carry larger bullish implication.

In the bigger picture, rebound from 0.6826 (2016 low) is seen as a corrective move that should be completed at 0.8135. Fall from there would extend to have a test on 0.6826. There is prospect of resuming long term down trend from 1.1079 (2011 high). Current downside momentum as seen in daily and weekly MACD support this bearish case. Firm break of 0.6826 will target 0.6008 key support next (2008 low). On the upside, break of 0.7361 resistance, however, argues that a medium term bottom is possibly in place, and stronger rebound could follow. We’ll assess the medium term outlook later if this happens.

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) 0.7149; (R1) 0.7205; More…

AUD/USD’s rebound from 0.7084 short term bottom is still in progress and intraday bias stays mildly on the upside. Further rise could be seen to 55 day EMA (now at 0.7313). But upside should be limited well below 0.7361 resistance to bring down trend resumption. On the downside, break of 0.7084 will resume the fall from 0.8135 for key support level at 0.6826. However, sustained break of 0.7361 will carry larger bullish implication.

In the bigger picture, rebound from 0.6826 (2016 low) is seen as a corrective move that should be completed at 0.8135. Fall from there would extend to have a test on 0.6826. There is prospect of resuming long term down trend from 1.1079 (2011 high). Current downside momentum as seen in daily and weekly MACD support this bearish case. Firm break of 0.6826 will target 0.6008 key support next (2008 low). On the upside, break of 0.7361 resistance, however, argues that a medium term bottom is possibly in place, and stronger rebound could follow. We’ll assess the medium term outlook later if this happens.

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7115; (P) 0.7149; (R1) 0.7205; More…

Intraday bias in AUD/USD stays mildly on the upside at this point. A short term bottom is in place at 0.7084 on bullish convergence condition in 4 hour MACD. Further rebound could be seen towards 55 day EMA (now at 0.7322). But upside should be limited well below 0.7361 resistance to bring down trend resumption. On the downside, break of 0.7084 will resume the fall from 0.8135 for key support level at 0.6826. However, sustained break of 0.7361 will carry larger bullish implication.

In the bigger picture, rebound from 0.6826 (2016 low) is seen as a corrective move that should be completed at 0.8135. Fall from there would extend to have a test on 0.6826. There is prospect of resuming long term down trend from 1.1079 (2011 high). Current downside momentum as seen in daily and weekly MACD support this bearish case. Firm break of 0.6826 will target 0.6008 key support next (2008 low). On the upside, break of 0.7361 resistance, however, argues that a medium term bottom is possibly in place, and stronger rebound could follow. We’ll assess the medium term outlook later if this happens.

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AUD/USD Mid-Day Outlook

Daily Pivots: (S1) 0.7094; (P) 0.7112; (R1) 0.7138; More…

AUD/USD’s strong rebound indicates short term bottoming at 0.7084, on bullish convergence condition in 4 hour MACD. Intraday bias is back on the upside for further rebound. But for now, we’d still expect upside to be limited well below 0.7361 resistance to bring down trend resumption. On the downside, break of 0.7084 will resume the fall from 0.8135 for key support level at 0.6826. However, sustained break of 0.7361 will carry larger bullish implication.

In the bigger picture, rebound from 0.6826 (2016 low) is seen as a corrective move that should be completed at 0.8135. Fall from there would extend to have a test on 0.6826. There is prospect of resuming long term down trend from 1.1079 (2011 high). Current downside momentum as seen in daily and weekly MACD support this bearish case. Firm break of 0.6826 will target 0.6008 key support next (2008 low). On the upside, break of 0.7361 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish even in case of strong rebound.

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7094; (P) 0.7112; (R1) 0.7138; More…

With 0.7131 minor resistance intact, intraday bias stays mildly on the downside. Current fall is part of the down trend from 0.8135. Next target is 161.8% projection of 0.7452 to 0.7201 from 0.7361 at 0.6955. Break will target key support level at 0.6826. On the upside, above 0.7131 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another decline.

In the bigger picture, rebound from 0.6826 (2016 low) is seen as a corrective move that should be completed at 0.8135. Fall from there would extend to have a test on 0.6826. There is prospect of resuming long term down trend from 1.1079 (2011 high). Current downside momentum as seen in daily and weekly MACD support this bearish case. Firm break of 0.6826 will target 0.6008 key support next (2008 low). On the upside, break of 0.7361 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish even in case of strong rebound.

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AUD/USD Mid-Day Outlook

Daily Pivots: (S1) 0.7097; (P) 0.7115; (R1) 0.7131; More…

AUD/USD’s decline resumes after brief consolidation and reaches as low as 0.7086 so far. Intraday bias remains on the downside. Current fall is part of the down trend from 0.8135. Next target is 161.8% projection of 0.7452 to 0.7201 from 0.7361 at 0.6955. Break will target key support level at 0.6826. On the upside, above 0.7131 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another decline.

In the bigger picture, rebound from 0.6826 (2016 low) is seen as a corrective move that should be completed at 0.8135. Fall from there would extend to have a test on 0.6826. There is prospect of resuming long term down trend from 1.1079 (2011 high). Current downside momentum as seen in daily and weekly MACD support this bearish case. Firm break of 0.6826 will target 0.6008 key support next (2008 low). On the upside, break of 0.7361 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish even in case of strong rebound.

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7097; (P) 0.7115; (R1) 0.7131; More…

No change in AUD/USD’s outlook. As long as 0.7210 resistance holds, deeper decline is expected. Current down trend from 0.8135 should extend to 161.8% projection of 0.7452 to 0.7201 from 0.7361 at 0.6955. Break will target key support level at 0.6826. On the upside, break of 0.7210 will indicate short term bottoming and bring lengthier consolidation before staging another fall.

In the bigger picture, rebound from 0.6826 (2016 low) is seen as a corrective move that should be completed at 0.8135. Fall from there would extend to have a test on 0.6826. There is prospect of resuming long term down trend from 1.1079 (2011 high). Current downside momentum as seen in daily and weekly MACD support this bearish case. Firm break of 0.6826 will target 0.6008 key support next (2008 low). On the upside, break of 0.7361 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish even in case of strong rebound.

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7068; (P) 0.7136; (R1) 0.7175; More…

Intraday bias in AUD/USD remains on the downside at this point. Current down trend should target 161.8% projection of 0.7452 to 0.7201 from 0.7361 at 0.6955. Break will target key support level at 0.6826. On the upside, break of 0.7210 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery.

In the bigger picture, rebound from 0.6826 (2016 low) is seen as a corrective move that should be completed at 0.8135. Fall from there would extend to have a test on 0.6826. There is prospect of resuming long term down trend from 1.1079 (2011 high). Current downside momentum as seen in daily and weekly MACD support this bearish case. Firm break of 0.6826 will target 0.6008 key support next (2008 low). On the upside, break of 0.7361 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish even in case of strong rebound.

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AUD/USD Weekly Outlook

AUD/USD’s down trend extended last week to as low as 0.7097. 100% projection of 0.7452 to 0.7201 from 0.7361 at 0.7110 was already met and there is no sign of bottoming. Initial bias remains on the downside this week for 161.8% projection at 0.6955. Break will target key support level at 0.6826. On the upside, break of 0.7210 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery.

In the bigger picture, rebound from 0.6826 (2016 low) is seen as a corrective move that should be completed at 0.8135. Fall from there would extend to have a test on 0.6826. There is prospect of resuming long term down trend from 1.1079 (2011 high). Current downside momentum as seen in daily and weekly MACD support this bearish case. Firm break of 0.6826 will target 0.6008 key support next (2008 low). On the upside, break of 0.7361 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish even in case of strong rebound.

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) 0.7172; (P) 0.7192; (R1) 0.7217; More…

As long as 0.7234 minor resistance holds, further decline is expected in AUD/USD. Next target is 100% projection of 0.7452 to 0.7201 from 0.7361 at 0.7110. Break will target 161.8% projection at 0.6955. However, break of 0.7234 will indicate short term bottoming and bring lengthier consolidations.

In the bigger picture, rebound from 0.6826 (2016 low) is seen as a corrective move that should be completed at 0.8135. Fall from there would extend to have a test on 0.6826. There is prospect of resuming long term down trend from 1.1079 (2011 high). But we’ll look at downside momentum to assess at a later stage. On the upside, break of 0.7452 resistance, however, will indicate medium term bottoming, on bullish convergence condition in daily MACD. In that case, a medium term correction should be seen first before down trend resumption.

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7153; (P) 0.7185; (R1) 0.7225; More…

AUD/USD continues to edge lower with weak downside momentum as seen in 4 hour MACD. For now, deeper fall is expected as long as 0.7234 minor resistance holds, Next target is 100% projection of 0.7452 to 0.7201 from 0.7361 at 0.7110. Break will target 161.8% projection at 0.6955. However, break of 0.7234 will indicate short term bottoming and bring lengthier consolidations.

In the bigger picture, rebound from 0.6826 (2016 low) is seen as a corrective move that should be completed at 0.8135. Fall from there would extend to have a test on 0.6826. There is prospect of resuming long term down trend from 1.1079 (2011 high). But we’ll look at downside momentum to assess at a later stage. On the upside, break of 0.7452 resistance, however, will indicate medium term bottoming, on bullish convergence condition in daily MACD. In that case, a medium term correction should be seen first before down trend resumption.

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7144; (P) 0.7190; (R1) 0.7222; More…

Despite dipping to 0.7156, AUD/USD quickly lost momentum again and recovered. Intraday bias stays neutral first and more consolidation might be seen. In case of stronger recovery, upside should be limited well below 0.7361 resistance to bring fall resumption. On the downside, break of 0.7156 will target 100% projection of 0.7452 to 0.7201 from 0.7361 at 0.7110. Break will target 161.8% projection at 0.6955.

In the bigger picture, rebound from 0.6826 (2016 low) is seen as a corrective move that should be completed at 0.8135. Fall from there would extend to have a test on 0.6826. There is prospect of resuming long term down trend from 1.1079 (2011 high). But we’ll look at downside momentum to assess at a later stage. On the upside, break of 0.7452 resistance, however, will indicate medium term bottoming, on bullish convergence condition in daily MACD. In that case, a medium term correction should be seen first before down trend resumption.

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7179; (P) 0.7202; (R1) 0.7237; More…

With 4 hour MACD crossed above signal line, a temporary low is in place at 0.7165 in AUD/USD. Intraday bias is turned neutral for consolidation. Stronger recovery could be seen back to 4 hour 55 EMA (now at 0.7269. But upside should be limited well below 0.7361 resistance to bring fall resumption. On the downside, below 0.7165 will target 100% projection of 0.7452 to 0.7201 from 0.7361 at 0.7110. Break will target 161.8% projection at 0.6955.

In the bigger picture, rebound from 0.6826 (2016 low) is seen as a corrective move that should be completed at 0.8135. Fall from there would extend to have a test on 0.6826. There is prospect of resuming long term down trend from 1.1079 (2011 high). But we’ll look at downside momentum to assess at a later stage. On the upside, break of 0.7452 resistance, however, will indicate medium term bottoming, on bullish convergence condition in daily MACD. In that case, a medium term correction should be seen first before down trend resumption.

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7156; (P) 0.7213; (R1) 0.7249; More…

AUD/USD dipped to 0.7165 earlier today but recovered. For now, intraday bias stays on the downside as long as 0.7235 minor resistance holds. Current decline, which is part of the down trend from 0.8135, should target 100% projection of 0.7452 to 0.7201 from 0.7361 at 0.7110. Break will target 161.8% projection at 0.6955. On the upside, above 0.7235 will turn intraday bias neutral first. But break of 0.7361 résistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

In the bigger picture, rebound from 0.6826 (2016 low) is seen as a corrective move that should be completed at 0.8135. Fall from there would extend to have a test on 0.6826. There is prospect of resuming long term down trend from 1.1079 (2011 high). But we’ll look at downside momentum to assess at a later stage. On the upside, break of 0.7452 resistance, however, will indicate medium term bottoming, on bullish convergence condition in daily MACD. In that case, a medium term correction should be seen first before down trend resumption.

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AUD/USD Weekly Outlook

AUD/USD dropped to as low as 0.7175 last week and the break of 0.7201 confirmed resumption of down trend from 0.8135. Initial bias is on the downside this week for 100% projection of 0.7452 to 0.7201 from 0.7361 at 0.7110. Break will target 161.8% projection at 0.6955. On the upside, break of 0.7361 résistance is needed to indicate short term bottoming. Otherwise, outlook will remain bearish in case of recovery.

In the bigger picture, rebound from 0.6826 (2016 low) is seen as a corrective move that should be completed at 0.8135. Fall from there would extend to have a test on 0.6826. There is prospect of resuming long term down trend from 1.1079 (2011 high). But we’ll look at downside momentum to assess at a later stage. On the upside, break of 0.7452 resistance, however, will indicate medium term bottoming, on bullish convergence condition in daily MACD. In that case, a medium term correction should be seen first before down trend resumption.

In the longer term picture, rebound from 0.682 (2016 low) should have completed at 0.8135 already. Failure to reach 38.2% retracement of 1.1079 (2011 high) to 0.6826 at 0.8451 carries bearish implications. This is also supported by the corrective structure from 0.6826 to 0.8135, as well as the rejection by 55 month EMA. 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) 0.7237; (P) 0.7276; (R1) 0.7303; More…

AUD/USD is still bounded in range of 0.7237/7381 and intraday bias remains neutral first. Consolidation could extend but in case of another rise, we’d expect upside to be limited by 0.7452 resistance to bring larger down trend resumption eventually. On the downside, below 0.7237 will target a test on 0.7201 low first. Firm break there will resume the down trend from 0.8135.

In the bigger picture, rebound from 0.6826 (2016 low) is seen as a corrective move that should be completed at 0.8135. Fall from there would extend to have a test on 0.6826. There is prospect of resuming long term down trend from 1.1079 (2011 high). But we’ll look at downside momentum to assess at a later stage. On the upside, break of 0.7452 resistance, however, will indicate medium term bottoming, on bullish convergence condition in daily MACD. In that case, a correction should be seen first, with stronger rebound would be seen to 38.2% retracement of 0.8135 to 0.7201 at 0.7558. The down trend from 0.8135 will resume after the correction completes.

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