Wed, Dec 08, 2021 @ 02:35 GMT

AUD/USD Mid-Day Report

Daily Pivots: (S1) 0.6962; (P) 0.7031; (R1) 0.7068; More…

AUD/USD’s rebound from 0.6992 extends higher today but stays below 0.7172 resistance. Intraday bias is turned neutral first. On the upside, firm break of 0.7172 will indicate short term bottoming. Intraday bias will be turned back to the upside for 55 day EMA (now at 0.7281). On the downside, firm break of 0.6991 key structural support will carry larger bearish implication. Next target is 100% projection of 0.7890 to 0.7105 from 0.7555 at 0.6770.

In the bigger picture, sustained break of 0.6991 cluster support will argue that the who up trend from 0.5506 might be finished at 0.8006, after rejection by 0.8135 long term resistance. Deeper decline would then be seen back to 61.8% retracement of 0.5506 to 0.8006 at 0.6461). For now, medium term outlook will stay bearish as long as 0.7555 resistance holds, in case of rebound.

AUD/USD Mid-Day Report

Daily Pivots: (S1) 0.6962; (P) 0.7031; (R1) 0.7068; More…

AUD/USD recovers mildly today but outlook remains unchanged. Intraday bias stays on the downside with focus on 0.6991 key structural support. Sustained break there will carry larger bearish implication. Next target is 100% projection of 0.7890 to 0.7105 from 0.7555 at 0.6770. On the upside, break of 0.7172 resistance will indicate short term bottoming and bring stronger rebound.

In the bigger picture, sustained break of 0.6991 cluster support will argue that the who up trend from 0.5506 might be finished at 0.8006, after rejection by 0.8135 long term resistance. Deeper decline would then be seen back to 61.8% retracement of 0.5506 to 0.8006 at 0.6461). For now, medium term outlook will stay bearish as long as 0.7555 resistance holds, in case of rebound.

AUD/USD Daily Report

Daily Pivots: (S1) 0.6962; (P) 0.7031; (R1) 0.7068; More…

Intraday bias in AUD/USD remains on the downside with focus on 0.6991 key structural support. Sustained break there will carry larger bearish implication. Next target is 100% projection of 0.7890 to 0.7105 from 0.7555 at 0.6770. On the upside, break of 0.7172 resistance will indicate short term bottoming and bring stronger rebound.

In the bigger picture, sustained break of 0.6991 cluster support will argue that the who up trend from 0.5506 might be finished at 0.8006, after rejection by 0.8135 long term resistance. Deeper decline would then be seen back to 61.8% retracement of 0.5506 to 0.8006 at 0.6461). For now, medium term outlook will stay bearish as long as 0.7555 resistance holds, in case of rebound.

AUD/USD Weekly Outlook

AUD/USD’s down trend continued last week despite some interim consolidation. Initial bias is now on the downside this week with focus on 0.6991 key structural support. Sustained break there will carry larger bearish implication. next target is 100% projection of 0.7890 to 0.7105 from 0.7555 at 0.6770. On the upside, break of 0.7172 resistance will indicate short term bottoming and bring stronger rebound.

In the bigger picture, sustained break of 0.6991 cluster support will argue that the who up trend from 0.5506 might be finished at 0.8006, after rejection by 0.8135 long term resistance. Deeper decline would then be seen back to 61.8% retracement of 0.5506 to 0.8006 at 0.6461). For now, medium term outlook will stay bearish as long as 0.7555 resistance holds, in case of rebound.

In the longer term picture, focus remains on 0.8135 structural resistance. Decisive break there will argue that rise from 0.5506 is developing into a long term up trend that reverses whole down trend from 1.1079 (2011 high).However, rejection by 0.8135 will keep long term outlook neutral at best.

AUD/USD Daily Report

Daily Pivots: (S1) 0.7078; (P) 0.7099; (R1) 0.7113; More…

Intraday bias in AUD/USD remains neutral for the moment. On the upside, above 0.7172 will resume the rebound from 0.7061 to 55 day EMA (now at 0.7308). On the downside, break of 0.7061 will extend the larger fall form 0.8006. But we’d look for support from 0.6991/7051 key support zone to bring rebound. However, sustained break there will carry larger bearish implications.

In the bigger picture, with 0.6991 cluster support (38.2% retracement of 0.5506 to 0.8006 at 0.7051) intact, we’re seeing price action from 0.8006 as a correction only. That is, up trend from 0.5506 low would resume after the correction completes. However, sustained break of 0.6991 will argue that the whole medium term trend has probably reversed. Deeper fall would be seen to 61.8% retracement at 0.6461.

AUD/USD Daily Report

Daily Pivots: (S1) 0.7076; (P) 0.7125; (R1) 0.7154; More…

Intraday bias in AUD/USD is turned neutral again as recovery from 0.7061 quickly lost momentum. On the upside, above 0.7172 will resume the rebound to 55 day EMA (now at 0.7308). On the downside, break of 0.7061 will extend the larger fall form 0.8006. But we’d look for support from 0.6991/7051 key support zone to bring rebound. However, sustained break there will carry larger bearish implications.

In the bigger picture, with 0.6991 cluster support (38.2% retracement of 0.5506 to 0.8006 at 0.7051) intact, we’re seeing price action from 0.8006 as a correction only. That is, up trend from 0.5506 low would resume after the correction completes. However, sustained break of 0.6991 will argue that the whole medium term trend has probably reversed. Deeper fall would be seen to 61.8% retracement at 0.6461.

AUD/USD Daily Report

Daily Pivots: (S1) 0.7071; (P) 0.7121; (R1) 0.7179; More…

AUD/USD’s break of 0.7158 minor resistance argues that a short term bottom might be formed at 0.7061, on bullish convergence condition in 4 hour MACD. Intraday bias is back on the upside for stronger rebound, possibly towards 55 day EMA (now at 0.7318). In case of another fall, we’d look for support from 0.6991/7051 key support zone to bring rebound. But sustained break there will carry larger bearish implications.

In the bigger picture, with 0.6991 cluster support (38.2% retracement of 0.5506 to 0.8006 at 0.7051) intact, we’re seeing price action from 0.8006 as a correction only. That is, up trend from 0.5506 low would resume after the correction completes. However, sustained break of 0.6991 will argue that the whole medium term trend has probably reversed. Deeper fall would be seen to 61.8% retracement at 0.6461.

AUD/USD Daily Report

Daily Pivots: (S1) 0.7118; (P) 0.7139; (R1) 0.7164; More…

AUD/USD’s decline continues today and break of 0.7105 indicates resumption of whole fall from 0.8006. Intraday bias stays on the downside for 0.6991 key structural support next. On the upside, break of 0.7158 minor resistance will turn bias back to the upside for stronger rebound first.

In the bigger picture, with 0.6991 cluster support (38.2% retracement of 0.5506 to 0.8006 at 0.7051) intact, we’re seeing price action from 0.8006 as a correction only. That is, up trend from 0.5506 low would resume after the correction completes. However, sustained break of 0.6991 will argue that the whole medium term trend has probably reversed. Deeper fall would be seen to 61.8% retracement at 0.6461.

AUD/USD Daily Report

Daily Pivots: (S1) 0.7092; (P) 0.7143; (R1) 0.7174; More…

Intraday bias in AUD/USD remains on the downside for the moment. Break of 0.7105 support will confirm resumption of whole decline form 0.8006. Next target should be 0.6991 key structural support. On the upside, break of 0.7208 minor resistance will delay the bearish case and turn intraday bias neutral first.

In the bigger picture, with 0.6991 cluster support (38.2% retracement of 0.5506 to 0.8006 at 0.7051) intact, we’re seeing price action from 0.8006 as a correction only. That is, up trend from 0.5506 low would resume after the correction completes. However, sustained break of 0.6991 will argue that the whole medium term trend has probably reversed. Deeper fall would be seen to 61.8% retracement at 0.6461.

AUD/USD Weekly Outlook

AUD/USD’s fall from 0.7555 accelerated to as low as 0.7110 last week. The break of 0.7169 support affirms the case that larger fall from 0.8006 is resuming. Initial bias stays on the downside this week first. Break of 0.7105 will target 0.6991 key support next. On the upside, break of 0.7208 minor resistance will delay the bearish case and turn intraday bias neutral first.

In the bigger picture, with 0.6991 cluster support (38.2% retracement of 0.5506 to 0.8006 at 0.7051) intact, we’re seeing price action from 0.8006 as a correction only. That is, up trend from 0.5506 low would resume after the correction completes. However, sustained break of 0.6991 will argue that the whole medium term trend has probably reversed. Deeper fall would be seen to 61.8% retracement at 0.6461.

In the longer term picture, focus remains on 0.8135 structural resistance. Decisive break there will argue that rise from 0.5506 is developing into a long term up trend that reverses whole down trend from 1.1079 (2011 high). In that case, further rally would be seen to 61.8% retracement of 1.1079 to 0.5506 at 0.8950 and possibly above. Rejection by 0.8135 will keep long term outlook neutral at best.

AUD/USD Daily Report

Daily Pivots: (S1) 0.7176; (P) 0.7193; (R1) 0.7206; More…

AUD/USD’s break of 0.7169 support affirms the case that larger decline from 0.8006 is resuming. Intraday bias remains on the downside for 0.7105 support first, and then 0.6991 cluster support. On the upside, break of 0.7208 minor resistance will delay the bearish case and turn intraday bias neutral first.

In the bigger picture, with 0.6991 cluster support (38.2% retracement of 0.5506 to 0.8006 at 0.7051) intact, we’re seeing price action from 0.8006 as a correction only. That is, up trend from 0.5506 low would resume after the correction completes. In that case, main focus will be 0.8135 key resistance (2018 high). Sustained break there will carry larger bullish implications. However, sustained break of 0.6991 will argue that the whole medium term trend has indeed reversed.

AUD/USD Daily Report

Daily Pivots: (S1) 0.7176; (P) 0.7202; (R1) 0.7220; More…

AUD/USD’s fall is still in progress and intraday bias remains on the downside for 0.7169 support first. Decisive break there will affirm the case that larger decline from 0.8006 is resuming. Next target is 0.7105 support for confirmation. On the upside, break of 0.7272 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another fall.

In the bigger picture, with 0.6991 cluster support (38.2% retracement of 0.5506 to 0.8006 at 0.7051) intact, we’re seeing price action from 0.8006 as a correction only. That is, up trend from 0.5506 low would resume after the correction completes. In that case, main focus will be 0.8135 key resistance (2018 high). Sustained break there will carry larger bullish implications. However, sustained break of 0.6991 will argue that the whole medium term trend has indeed reversed.

AUD/USD Daily Report

Daily Pivots: (S1) 0.7211; (P) 0.7223; (R1) 0.7240; More…

Intraday bias in AUD/USD remains on the downside at this point. Fall from 0.7555 is in progress for 0.7169 support first. Decisive break there will affirm the case that larger decline from 0.8006 is resuming. Next target is 0.7105 support for confirmation. On the upside, break of 0.7272 minor resistance will turn intraday bias neutral and bring consolidations first, before staging another fall.

In the bigger picture, with 0.6991 cluster support (38.2% retracement of 0.5506 to 0.8006 at 0.7051) intact, we’re seeing price action from 0.8006 as a correction only. That is, up trend from 0.5506 low would resume after the correction completes. In that case, main focus will be 0.8135 key resistance (2018 high). Sustained break there will carry larger bullish implications. However, sustained break of 0.6991 will argue that the whole medium term trend has indeed reversed.

AUD/USD Daily Report

Daily Pivots: (S1) 0.7205; (P) 0.7240; (R1) 0.7258; More…

Intraday bias in AUD/USD remains on the downside, as fall from 0.7555 is in progress for 0.7169 support first. Firm break there will affirm the case that larger decline form 0.8006 is resuming. Next target is 0.7105 support for confirmation. On the upside, break of 0.7369 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay mildly bearish in case of recovery.

In the bigger picture, with 0.6991 cluster support (38.2% retracement of 0.5506 to 0.8006 at 0.7051) intact, we’re seeing price action from 0.8006 as a correction only. That is, up trend from 0.5506 low would resume after the correction completes. In that case, main focus will be 0.8135 key resistance (2018 high). Sustained break there will carry larger bullish implications. However, sustained break of 0.6991 will argue that the whole medium term trend has indeed reversed.

AUD/USD Daily Report

Daily Pivots: (S1) 0.7211; (P) 0.7251; (R1) 0.7275; More…

Intraday bias in AUD/USD remains on the downside at this point. As noted before, rebound from 0.7105 is complete with three waves up to 0.7555, and fall from 0.8006 is probably ready to resume. Further fall should be seen to 0.7169 support first. Break will target 0.7105 and below. On the upside, break of 0.7369 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay mildly bearish in case of recovery.

In the bigger picture, with 0.6991 cluster support (38.2% retracement of 0.5506 to 0.8006 at 0.7051) intact, we’re seeing price action from 0.8006 as a correction only. That is, up trend from 0.5506 low would resume after the correction completes. In that case, main focus will be 0.8135 key resistance (2018 high). Sustained break there will carry larger bullish implications. However, sustained break of 0.6991 will argue that the whole medium term trend has indeed reversed.

AUD/USD Weekly Outlook

AUD/USD’s fall from 0.7555 continued last week and outlook is unchanged. Rebound from 0.7105 is complete with three waves up to 0.7555, and fall from 0.8006 is probably ready to resume. Initial bias is now on the downside this week for 0.7169 support first. Break will target 0.7105 and below. On the upside, break of 0.7369 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay mildly bearish in case of recovery.

In the bigger picture, with 0.6991 cluster support (38.2% retracement of 0.5506 to 0.8006 at 0.7051) intact, we’re seeing price action from 0.8006 as a correction only. That is, up trend from 0.5506 low would resume after the correction completes. In that case, main focus will be 0.8135 key resistance (2018 high). Sustained break there will carry larger bullish implications. However, sustained break of 0.6991 will argue that the whole medium term trend has indeed reversed.

In the longer term picture, focus remains on 0.8135 structural resistance. Decisive break there will argue that rise from 0.5506 is developing into a long term up trend that reverses whole down trend from 1.1079 (2011 high). In that case, further rally would be seen to 61.8% retracement of 1.1079 to 0.5506 at 0.8950 and possibly above. Rejection by 0.8135 will keep long term outlook neutral at best.

AUD/USD Daily Report

Daily Pivots: (S1) 0.7253; (P) 0.7273; (R1) 0.7296; More…

AUD/USD lost downside momentum after hitting near term channel support, and intraday bias is turned neutral first. But further decline is expected as long as 0.7369 resistance holds. We’d holding on to the view that rebound from 0.7105 could be complete with three waves up to 0.7555. ON the downside, break of 0.7248 will target 0.7169 support first, and then 0.7105. On the upside, however, break of 0.7369 resistance will turn bias back to the upside for retesting 0.7555 instead.

In the bigger picture, with 0.6991 cluster support (38.2% retracement of 0.5506 to 0.8006 at 0.7051) intact, we’re seeing price action from 0.8006 as a correction only. That is, up trend from 0.5506 low would resume after the correction completes. In that case, main focus will be 0.8135 key resistance (2018 high). Sustained break there will carry larger bullish implications. However, sustained break of 0.6991 will argue that the whole medium term trend has indeed reversed.

AUD/USD Daily Report

Daily Pivots: (S1) 0.7248; (P) 0.7277; (R1) 0.7294; More…

Intraday bias in AUD/USD remains on the downside at this point. As noted before, rebound Rebound from 0.7105 could be complete with three waves up to 0.7555, and fall from 0.8006 is still in progress. Deeper fall should be seen to 0.7169 support, and then 0.7105. On the upside, however, break of 0.7369 minor resistance will turn bias back to the upside for retesting 0.7555 instead.

In the bigger picture, with 0.6991 cluster support (38.2% retracement of 0.5506 to 0.8006 at 0.7051) intact, we’re seeing price action from 0.8006 as a correction only. That is, up trend from 0.5506 low would resume after the correction completes. In that case, main focus will be 0.8135 key resistance (2018 high). Sustained break there will carry larger bullish implications. However, sustained break of 0.6991 will argue that the whole medium term trend has indeed reversed.

AUD/USD Daily Report

Daily Pivots: (S1) 0.7273; (P) 0.7320; (R1) 0.7349; More…

AUD/USD’s fall from 0.7555 resumed by breaking 0.7275 temporary low. Intraday bias is back on the downside. As noted before, rebound Rebound from 0.7105 could be complete with three waves up to 0.7555, and fall from 0.8006 is still in progress. Deeper fall should be seen to 0.7169 support, and then 0.7105. On the upside, however, break of 0.7369 minor resistance will turn bias back to the upside for retesting 0.7555.

In the bigger picture, with 0.6991 cluster support (38.2% retracement of 0.5506 to 0.8006 at 0.7051) intact, we’re seeing price action from 0.8006 as a correction only. That is, up trend from 0.5506 low would resume after the correction completes. In that case, main focus will be 0.8135 key resistance (2018 high). Sustained break there will carry larger bullish implications. However, sustained break of 0.6991 will argue that the whole medium term trend has indeed reversed.

AUD/USD Daily Report

Daily Pivots: (S1) 0.7323; (P) 0.7347; (R1) 0.7371; More…

Intraday bias in AUD/USD stays neutral as consolidation from 0.7275 temporary low is extending. But further decline is in favor as long as 0.7431 minor resistance holds. Rebound from 0.7105 could be complete with three waves up to 0.7555, and fall from 0.8006 is still in progress. On the downside, below 0.7275 will target 0.7169 support first, and then 0.7105. However, break of 0.7431 resistance will turn bias back to the upside for retesting 0.7555.

In the bigger picture, with 0.6991 cluster support (38.2% retracement of 0.5506 to 0.8006 at 0.7051) intact, we’re seeing price action from 0.8006 as a correction only. That is, up trend from 0.5506 low would resume after the correction completes. In that case, main focus will be 0.8135 key resistance (2018 high). Sustained break there will carry larger bullish implications. However, sustained break of 0.6991 will argue that the whole medium term trend has indeed reversed.