Sat, May 26, 2018 @ 19:33 GMT

AUD/USD Weekly Outlook

AUD/USD edged higher to 0.7604 last week but treated since then. Initial bias remains neutral this week first. On the downside, break of 0.7502 minor support will suggest that the corrective recovery from 0.7411 has completed. Intraday bias would be turned back to the downside for 0.7411 and below to resume the larger decline from 0.8135 to cluster support at 0.7328 (61.8% retracement of 0.6826 to 0.8135 at 0.7326). Above 0.7604 will extend the corrective rise. But we’d expect strong resistance from 38.2% retracement of 0.8135 to 0.7144 at 0.7688 to limit upside.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. Prior break of 0.7500 key support suggests that such correction is completed at 0.8135. Deeper decline would be seen back to retest 0.6826 low. In case of another rise, we’d expect strong resistance from 38.2% retracement of 1.1079 to 0.6826 at 0.8451 to limit upside to bring long term down trend resumption eventually.

In the longer term picture, 0.6826 is seen as a long term bottom. Rise from there could either reverse the down trend from 1.1079, or just develop into a corrective pattern. At this point, we’re favoring the latter. And, as long as 38.2% retracement of 1.1079 to 0.6826 at 0.8451 holds, we’d anticipate another decline through 0.6826 at a later stage. But strong support should be seen between 0.4773 (2001 low) and 0.6008 (2008 low).

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7551; (P) 0.7568; (R1) 0.7593; More…

Intraday bias in AUD/USD stays neutral for the moment. While corrective rise from 0.7411 could extend, we’d expect strong resistance from 38.2% retracement of 0.8135 to 0.7144 at 0.7688 to limit upside and bring decline resumption eventually. On the downside, below 0.7502 minor support will argue that the corrective rise is completed and bring retest of 0.7411 low. Firm break there will resume the fall from 0.8135 and target cluster support at 0.7328 (61.8% retracement of 0.6826 to 0.8135 at 0.7326).

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. Break of 0.7500 key support suggests that such correction is completed at 0.8135. Deeper decline would be seen back to retest 0.6826 low. In case of another rise, we’d expect strong resistance from 38.2% retracement of 1.1079 to 0.6826 at 0.8451 to limit upside to bring long term down trend resumption eventually.

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7527; (P) 0.7555; (R1) 0.7588; More…

Intraday bias in AUD/USD remains neutral at this point. Above 0.7604 will extend the corrective rise from 0.7411. But we’d expect strong resistance from 38.2% retracement of 0.8135 to 0.7144 at 0.7688 to limit upside and bring decline resumption eventually. On the downside, below 0.7502 minor support will argue that the corrective rise is completed and bring retest of 0.7411 low. Firm break there will resume the fall from 0.8135 and target cluster support at 0.7328 (61.8% retracement of 0.6826 to 0.8135 at 0.7326).

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. Break of 0.7500 key support suggests that such correction is completed at 0.8135. Deeper decline would be seen back to retest 0.6826 low. In case of another rise, we’d expect strong resistance from 38.2% retracement of 1.1079 to 0.6826 at 0.8451 to limit upside to bring long term down trend resumption eventually.

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7559; (P) 0.7583; (R1) 0.7599; More…

Intraday bias in AUD/USD is turned neutral with today’s sharp fall that drags 4 hour MACD below signal line. Price actions from 0.7411 is seen as a correction. Break of 0.7502 will argue that it’s completed and bring retest of 0.7411 low. Firm break there will resume the fall from 0.8135 and target cluster support at 0.7328 (61.8% retracement of 0.6826 to 0.8135 at 0.7326). In case of another recovery, strong resistance should be seen at 38.2% retracement of 0.8135 to 0.7144 at 0.7688 to limit upside and bring decline resumption eventually.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. Break of 0.7500 key support suggests that such correction is completed at 0.8135. Deeper decline would be seen back to retest 0.6826 low. In case of another rise, we’d expect strong resistance from 38.2% retracement of 1.1079 to 0.6826 at 0.8451 to limit upside to bring long term down trend resumption eventually.

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7527; (P) 0.7558; (R1) 0.7612; More…

AUD/USD’s rebound from 0.7411 resumed by breaking 0.7566 and reaches as high as 0.7592 so far. Intraday bias is mildly on the upside for further rise, possibly to 55 day EMA (now at 0.7633). But strong resistance should be seen at 38.2% retracement of 0.8135 to 0.7144 at 0.7688 to limit upside and bring decline resumption eventually. On the downside, below 0.7502 minor support will turn intraday bias back to the downside for 0.7411 short term bottom first. Break will resume the fall from 0.8135 and target cluster support at 0.7328 (61.8% retracement of 0.6826 to 0.8135 at 0.7326).

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. Break of 0.7500 key support suggests that such correction is completed at 0.8135. Deeper decline would be seen back to retest 0.6826 low. In case of another rise, we’d expect strong resistance from 38.2% retracement of 1.1079 to 0.6826 at 0.8451 to limit upside to bring long term down trend resumption eventually.

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7489; (P) 0.7519; (R1) 0.7540; More…

Intraday bias in AUD/USD remains neutral as this point as range trading continues above 0.7411. Stronger rebound cannot be ruled out. But upside should be limited by 38.2% retracement of 0.8135 to 0.7144 at 0.7688 to bring decline resumption eventually. On the downside, break of 0.7411 will resume the fall from 0.8135 and target cluster support at 0.7328 (61.8% retracement of 0.6826 to 0.8135 at 0.7326).

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. Break of 0.7500 key support suggests that such correction is completed at 0.8135. Deeper decline would be seen back to retest 0.6826 low. In case of another rise, we’d expect strong resistance from 38.2% retracement of 1.1079 to 0.6826 at 0.8451 to limit upside to bring long term down trend resumption eventually.

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AUD/USD Weekly Outlook

AUD/USD stayed in consolidation above 0.7411 short term bottom last week and outlook is unchanged. Initial bias is neutral this week first. Above 0.7566 will bring stronger rebound. But we’d expect upside to be limited by 38.2% retracement of 0.8135 to 0.7144 at 0.7688 to bring decline resumption. On the downside, break of 0.7411 will resume the fall from 0.8135 and target cluster support at 0.7328 (61.8% retracement of 0.6826 to 0.8135 at 0.7326).

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. Break of 0.7500 key support suggests that such correction is completed at 0.8135. Deeper decline would be seen back to retest 0.6826 low. In case of another rise, we’d expect strong resistance from 38.2% retracement of 1.1079 to 0.6826 at 0.8451 to limit upside to bring long term down trend resumption eventually.

In the longer term picture, 0.6826 is seen as a long term bottom. Rise from there could either reverse the down trend from 1.1079, or just develop into a corrective pattern. At this point, we’re favoring the latter. And, as long as 38.2% retracement of 1.1079 to 0.6826 at 0.8451 holds, we’d anticipate another decline through 0.6826 at a later stage. But strong support should be seen between 0.4773 (2001 low) and 0.6008 (2008 low).

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7489; (P) 0.7519; (R1) 0.7540; More…

AUD/USD is bounded in range of 0.7411/7566 and intraday bias remains neutral first. On the upside, above 0.7566 will bring stronger recovery. But upside should be limited by 38.2% retracement of 0.8135 to 0.7144 at 0.7688 to bring decline resumption. On the downside, break of 0.7411 will resume the fall from 0.8135 and target cluster support at 0.7328 (61.8% retracement of 0.6826 to 0.8135 at 0.7326).

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. Decisive break of 0.7500 key support suggests that such correction is completed at 0.8135. Deeper decline would be seen back to retest 0.6826 low. In case of another rise, we’d expect strong resistance from 38.2% retracement of 1.1079 to 0.6826 at 0.8451 to limit upside to bring long term down trend resumption eventually.

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7468; (P) 0.7495; (R1) 0.7543; More…

Intraday bias in AUD/USD remains neutral as consolidation from 0.7411 is extending. Above 0.7566 will bring stronger recovery. But upside should be limited by 38.2% retracement of 0.8135 to 0.7144 at 0.7688 to bring decline resumption. On the downside, break of 0.7411 will resume the fall from 0.8135 and target cluster support at 0.7328 (61.8% retracement of 0.6826 to 0.8135 at 0.7326).

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. Decisive break of 0.7500 key support suggests that such correction is completed at 0.8135. Deeper decline would be seen back to retest 0.6826 low. In case of another rise, we’d expect strong resistance from 38.2% retracement of 1.1079 to 0.6826 at 0.8451 to limit upside to bring long term down trend resumption eventually.

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7434; (P) 0.7486; (R1) 0.7525; More…

Despite sharp decline from 0.7566, AUD/USD is holding above 0.7411 short term bottom. Intraday bias remains neutral first. More consolidation could be seen and above 0.7566 will bring another recovery. But in that case, upside should be limited by 38.2% retracement of 0.8135 to 0.7144 at 0.7688 to bring decline resumption. On the downside, break of 0.7411 will resume the fall from 0.8135 and target cluster support at 0.7328 (61.8% retracement of 0.6826 to 0.8135 at 0.7326).

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. Decisive break of 0.7500 key support suggests that such correction is completed at 0.8135. Deeper decline would be seen back to retest 0.6826 low. In case of another rise, we’d expect strong resistance from 38.2% retracement of 1.1079 to 0.6826 at 0.8451 to limit upside to bring long term down trend resumption eventually.

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7511; (P) 0.7538; (R1) 0.7553; More…

AUD/USD’s recovery was limited at 0.7566 and retreated. Intraday bias is turned neutral first. More consolidations could be seen in near term. Above 0.7566 will bring another rise. But in that case, upside should be limited by 38.2% retracement of 0.8135 to 0.7144 at 0.7688 to bring decline resumption. On the downside, break of 0.7411 will resume the fall from 0.8135 and target cluster support at 0.7328 (61.8% retracement of 0.6826 to 0.8135 at 0.7326).

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. Decisive break of 0.7500 key support suggests that such correction is completed at 0.8135. Deeper decline would be seen back to retest 0.6826 low. In case of another rise, we’d expect strong resistance from 38.2% retracement of 1.1079 to 0.6826 at 0.8451 to limit upside to bring long term down trend resumption eventually.

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7519; (P) 0.7543; (R1) 0.7563; More…

Intraday bias in AUD/USD remains mildly on the upside as rebound from 0.7411 short term bottom is in progress. Further rally could be seen to 38.2% retracement of 0.8135 to 0.7144 at 0.7688. But we’d expect strong resistance from there to limit upside to bring decline resumption. On the downside, break of 0.7411 will resume the fall from 0.8135 and target cluster support at 0.7328 (61.8% retracement of 0.6826 to 0.8135 at 0.7326).

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. Decisive break of 0.7500 key support suggests that such correction is completed at 0.8135. Deeper decline would be seen back to retest 0.6826 low. In case of another rise, we’d expect strong resistance from 38.2% retracement of 1.1079 to 0.6826 at 0.8451 to limit upside to bring long term down trend resumption eventually.

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AUD/USD Weekly Outlook

AUD/USD edged lower to 0.7411 last week but formed a short term bottom there and rebounded. Initial bias is mildly on the upside this week for recovery to 0.7642 support turned resistance. But we’d expect upside to be limited by 38.2% retracement of 0.8135 to 0.7144 at 0.7688 to bring fall resumption. Below 0.7411 will resumed the fall from 0.8135 and target cluster support at 0.7328 (61.8% retracement of 0.6826 to 0.8135 at 0.7326).

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. Decisive break of 0.7500 key support suggests that such correction is completed at 0.8135. Deeper decline would be seen back to retest 0.6826 low. In case of another rise, we’d expect strong resistance from 38.2% retracement of 1.1079 to 0.6826 at 0.8451 to limit upside to bring long term down trend resumption eventually.

In the longer term picture, 0.6826 is seen as a long term bottom. Rise from there could either reverse the down trend from 1.1079, or just develop into a corrective pattern. At this point, we’re favoring the latter. And, as long as 38.2% retracement of 1.1079 to 0.6826 at 0.8451 holds, we’d anticipate another decline through 0.6826 at a later stage. But strong support should be seen between 0.4773 (2001 low) and 0.6008 (2008 low).

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7423; (P) 0.7448; (R1) 0.7483; More…

Intraday bias in AUD/USD remains neutral for consolidation above 0.7411 temporary low. As long as 0.7559 minor resistance holds, deeper decline is expected. Break of 0.7411 will target cluster support at 0.7328 (61.8% retracement of 0.6826 to 0.8135 at 0.7326). Sustained break will add more credence to the case of long term down trend resumption and target 0.7158 support next. On the upside, break of 0.7559 resistance, however, will indicate short term bottoming, on bullish convergence condition in 4 hour MACD. Lengthier consolidation would then be seen before another fall.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. Decisive break of 0.7500 key support suggests that such correction is completed at 0.8135. Deeper decline would be seen back to retest 0.6826 low. In case of another rise, we’d expect strong resistance from 38.2% retracement of 1.1079 to 0.6826 at 0.8451 to limit upside to bring long term down trend resumption eventually.

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7423; (P) 0.7448; (R1) 0.7483; More…

With 0.7559 minor resistance intact, further fall is expected in AUD?USD. Next target is cluster support at 0.7328 (61.8% retracement of 0.6826 to 0.8135 at 0.7326). Sustained break will add more credence to the case of long term down trend resumption and target 0.7158 support next. On the upside, break of 0.7559 resistance, however, will indicate short term bottoming, on bullish convergence condition in 4 hour MACD. Lengthier consolidation would then be seen before another fall.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. Decisive break of 0.7500 key support suggests that such correction is completed at 0.8135. Deeper decline would be seen back to retest 0.6826 low. In case of another rise, we’d expect strong resistance from 38.2% retracement of 1.1079 to 0.6826 at 0.8451 to limit upside to bring long term down trend resumption eventually.

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7414; (P) 0.7471; (R1) 0.7508; More…

Intraday bias in AUD/USD remains on the downside for the moment. Current decline should target next cluster support at 0.7328 (61.8% retracement of 0.6826 to 0.8135 at 0.7326). Sustained break will add more credence to the case of long term down trend resumption and target 0.7158 support next. On the upside, break of 0.7559 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. Decisive break of 0.7500 key support suggests that such correction is completed at 0.8135. Deeper decline would be seen back to retest 0.6826 low. In case of another rise, we’d expect strong resistance from 38.2% retracement of 1.1079 to 0.6826 at 0.8451 to limit upside to bring long term down trend resumption eventually.

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AUD/USD Mid-Day Outlook

Daily Pivots: (S1) 0.7492; (P) 0.7517; (R1) 0.7542; More…

AUD/USD’s decline resumed by taking out 0.7472 support and reaches as low as 0.7446 so far. Intraday bias is back on the downside. Sustained trading below 0.7500 will indicate medium term reversal and target next support at 0.7328. On the upside, break of 0.7559 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. Decisive break of 0.7500 key support will suggest that such correction is completed. In that case, deeper decline would be seen back to retest 0.6826 low. In case of another rise, we’d expect strong resistance from 38.2% retracement of 1.1079 to 0.6826 at 0.8451 to limit upside to bring long term down trend resumption eventually.

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7492; (P) 0.7517; (R1) 0.7542; More…

AUD/USD is staying in consolidation above 0.7472 temporary low. With 0.7583 minor resistance intact, recent decline should resume sooner rather than later. Below 0.7472 and sustained break of 0.7500 will indicate medium term reversal and target next support at 0.7328. However, break of 0.7583 will indicate short term bottoming, on bullish convergence condition in 4 hour MACD. And stronger rebound could be seen back to 38.2% retracement of 0.8135 to 0.7472 at 0.7725 and possibly above.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. Decisive break of 0.7500 key support will suggest that such correction is completed. In that case, deeper decline would be seen back to retest 0.6826 low. In case of another rise, we’d expect strong resistance from 38.2% retracement of 1.1079 to 0.6826 at 0.8451 to limit upside to bring long term down trend resumption eventually.

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7499; (P) 0.7529; (R1) 0.7568; More…

Intraday bias in AUD/USD remains neutral for consolidation above 0.7472 temporary low. As long as 0.7583 minor resistance holds, the consolidation should be relatively brief and recent fall should resume sooner rather than later. Below 0.7472 and sustained break of 0.7500 will indicate medium term reversal and target next support at 0.7328. However, break of 0.7583 will indicate short term bottoming, on bullish convergence condition in 4 hour MACD. And stronger rebound could be seen back to 38.2% retracement of 0.8135 to 0.7472 at 0.7725 and possibly above.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. Decisive break of 0.7500 key support will suggest that such correction is completed. In that case, deeper decline would be seen back to retest 0.6826 low. In case of another rise, we’d expect strong resistance from 38.2% retracement of 1.1079 to 0.6826 at 0.8451 to limit upside to bring long term down trend resumption eventually.

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AUD/USD Weekly Outlook

AUD/USD dropped to as low as 0.7472 last week and breached 0.7500 key support level. But there was no follow through selling and the pair recovered. Initial bias is neutral this week for consolidations first. As long as 0.7583 minor resistance holds, the consolidation should be relatively brief and recent fall should resume sooner rather than later. Below 0.7472 and sustained break of 0.7500 will indicate medium term reversal and target next support at 0.7328. However, break of 0.7583 will indicate short term bottoming, on bullish convergence condition in 4 hour MACD. And stronger rebound could be seen back to 38.2% retracement of 0.8135 to 0.7472 at 0.7725 and possibly above.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. Decisive break of 0.7500 key support will suggest that such correction is completed. In that case, deeper decline would be seen back to retest 0.6826 low. In case of another rise, we’d expect strong resistance from 38.2% retracement of 1.1079 to 0.6826 at 0.8451 to limit upside to bring long term down trend resumption eventually.

In the longer term picture, 0.6826 is seen as a long term bottom. Rise from there could either reverse the down trend from 1.1079, or just develop into a corrective pattern. At this point, we’re favoring the latter. And, as long as 38.2% retracement of 1.1079 to 0.6826 at 0.8451 holds, we’d anticipate another decline through 0.6826 at a later stage. But strong support should be seen between 0.4773 (2001 low) and 0.6008 (2008 low).

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