Wed, Mar 27, 2019 @ 02:31 GMT

AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7080; (P) 0.7098; (R1) 0.7132; More…

Outlook in AUD/USD remains unchanged and intraday bias stays neutral. On the downside, break of 0.7056 minor support will turn bias to the downside for 0.7003 first. Break will resume the whole decline from 0.7295. On the upside above 0.7168 will resume the rebound from 0.7003 towards 0.7295 high instead.

In the bigger picture, as long as 0.7393 resistance holds, we’d treat fall from 0.8135 as resuming long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 (2016 low) will confirm this bearish view and resume the down trend to 0.6008 (2008 low). However, firm break of 0.7393 will argue that fall from 0.8135 has completed. And corrective pattern from 0.6826 has started the third leg, targeting 0.8135 again.

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7064; (P) 0.7092; (R1) 0.7108; More…

Intraday bias in AUD/USD remains neutral at this point, with focus on 0.7056 minor support. On the downside, break of 0.7056 minor support will turn bias to the downside for 0.7003 first. Break will resume the whole decline from 0.7295. On the upside above 0.7168 will resume the rebound from 0.7003 towards 0.7295 high instead.

In the bigger picture, as long as 0.7393 resistance holds, we’d treat fall from 0.8135 as resuming long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 (2016 low) will confirm this bearish view and resume the down trend to 0.6008 (2008 low). However, firm break of 0.7393 will argue that fall from 0.8135 has completed. And corrective pattern from 0.6826 has started the third leg, targeting 0.8135 again.

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AUD/USD Weekly Outlook

AUD/USD rebounded to as high as 0.7168 last week but failed to sustain above 55 day EMA and retreated sharply. Initial bias is neutral this week first. On the downside, break of 0.7056 minor support will turn bias to the downside for 0.7003 first. Break will resume the whole decline from 0.7295. On the upside above 0.7168 will resume the rebound from 0.7003 towards 0.7295 high instead.

In the bigger picture, as long as 0.7393 resistance holds, we’d treat fall from 0.8135 as resuming long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 (2016 low) will confirm this bearish view and resume the down trend to 0.6008 (2008 low). However, firm break of 0.7393 will argue that fall from 0.8135 has completed. And corrective pattern from 0.6826 has started the third leg, targeting 0.8135 again.

In the longer term picture, prior rejection by 55 month EMA maintained long term bearishness in AUD/USD. That is, down trend from 1.1079 (2011 high) is still in progress. Sustained break of 0.6826 will target 0.6008 low and then 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) 0.7078; (P) 0.7123; (R1) 0.7157; More…

AUD/USD retreated sharply after hitting 0.7168 and intraday bias is turned neutral first. Another rise is in favor as long as 0.7056 minor support holds. Above 0.7168 will target 0.7295 resistance. Break will resume whole rebound from 0.6722. On the downside, though, break of 0.7056 will turn bias back to the downside for 0.7003 instead.

In the bigger picture, as long as 0.7393 resistance holds, we’d treat fall from 0.8135 as resuming long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 (2016 low) will confirm this bearish view and resume the down trend to 0.6008 (2008 low). However, firm break of 0.7393 will argue that fall from 0.8135 has completed. And corrective pattern from 0.6826 has started the third leg, targeting 0.8135 again.

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7067; (P) 0.7108; (R1) 0.7160; More…

AUD/USD’s rally from 0.7003 accelerated to as high as 0.7168 so far. Decisive break of 0.7121 suggests that corrective decline from 0.7295 has completed with three waves down to 0.7003 already. More importantly, rise from 0.6722 might be in progress. Intraday bias is back on the upside for 0.7206 resistance first. Break will target 0.7295 high next. On the downside, break of 0.7056 is needed to indicate completion of the rise from 0.7003. Otherwise, near term outlook will remain mildly bullish in case of retreat.

In the bigger picture, as long as 0.7393 resistance holds, we’d treat fall from 0.8135 as resuming long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 (2016 low) will confirm this bearish view and resume the down trend to 0.6008 (2008 low). However, firm break of 0.7393 will argue that fall from 0.8135 has completed. And corrective pattern from 0.6826 has started the third leg, targeting 0.8135 again.

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7079; (P) 0.7095; (R1) 0.7107; More…

Intraday bias in AUD/USD remains neutral first. With 0.7121 minor resistance intact, further decline is still expected. On the downside, break of 0.7003 will extend the fall from 0.7295 to 61.8% retracement of 0.6722 to 0.7295 at 0.6941 and below. However, firm break of 0.7121 will argue that decline from 0.7295 has completed at 0.7003. In that case, further rise should be seen to 0.7206 resistance to confirm. More importantly, in that case, corrective three wave structure of the fall from 0.7296 to 0.7003 would suggest that rise from 0.6722 low is extending through 0.7295.

In the bigger picture, as long as 0.7393 resistance holds, we’d treat fall from 0.8135 as resuming long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 (2016 low) will confirm this bearish view and resume the down trend to 0.6008 (2008 low). However, firm break of 0.7393 will argue that fall from 0.8135 has completed. And corrective pattern from 0.6826 has started the third leg, targeting 0.8135 again.

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7081; (P) 0.7101; (R1) 0.7123; More…

AUD/USD stays below 0.7121 minor resistance despite recovery. Intraday bias remains neutral first. Further fall remains in favor with 0.7121 intact. On the downside, break of 0.7003 will extend the fall from 0.7295 to 61.8% retracement of 0.6722 to 0.7295 at 0.6941 and below. However, firm break of 0.7121 will argue that decline from 0.7295 has completed at 0.7003. In that case, further rise should be seen to 0.7206 resistance to confirm. More importantly, in that case, corrective three wave structure of the fall from 0.7296 to 0.7003 would suggest that rise from 0.6722 low is extending through 0.7295.

In the bigger picture, as long as 0.7393 resistance holds, we’d treat fall from 0.8135 as resuming long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 (2016 low) will confirm this bearish view and resume the down trend to 0.6008 (2008 low). However, firm break of 0.7393 will argue that fall from 0.8135 has completed. And corrective pattern from 0.6826 has started the third leg, targeting 0.8135 again.

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7066; (P) 0.7082; (R1) 0.7102; More…

AUD/USD rises strongly today and focus is now on 0.7121 minor resistance. Firm break there will argue that decline from 0.7295 has completed at 0.7003. In that case, further rise should be seen to 0.7206 resistance to confirm. More importantly, in that case, corrective three wave structure of the fall fro 0.7296 to 0.7003 would suggest that rise from 0.6722 low is extending through 0.7295. On the downside, though, break of 0.7003 will extend the fall from 0.7295 to 61.8% retracement of 0.6722 to 0.7295 at 0.6941 and below.

In the bigger picture, as long as 0.7393 resistance holds, we’d treat fall from 0.8135 as resuming long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 (2016 low) will confirm this bearish view and resume the down trend to 0.6008 (2008 low). However, firm break of 0.7393 will argue that fall from 0.8135 has completed. And corrective pattern from 0.6826 has started the third leg, targeting 0.8135 again.

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AUD/USD Weekly Outlook

AUD/USD stayed in consolidation above 0.7003 last week and outlook is unchanged. Initial bias remains neutral this week first. In case of another recovery, upside should be limited by 0.7121 minor resistance to bring fall resumption. On the downside, break of 0.7003 will resume the fall from 0.7295 to 61.8% retracement of 0.6722 to 0.7295 at 0.6941 and below. However, sustained break of 0.7121 resistance will dampen this view and bring stronger rise to 0.7206 and above.

In the bigger picture, as long as 0.7393 resistance holds, we’d treat fall from 0.8135 as resuming long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 (2016 low) will confirm this bearish view and resume the down trend to 0.6008 (2008 low). However, firm break of 0.7393 will argue that fall from 0.8135 has completed. And corrective pattern from 0.6826 has started the third leg, targeting 0.8135 again.

In the longer term picture, prior rejection by 55 month EMA maintained long term bearishness in AUD/USD. That is, down trend from 1.1079 (2011 high) is still in progress. Sustained break of 0.6826 will target 0.6008 low and then 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) 0.7037; (P) 0.7068; (R1) 0.7095; More…

Outlook in AUD/USD remains unchanged for the moment. Recovery from 0.7003 is seen as a corrective recovery. Upside should be limited by 0.7121 resistance to bring fall resumption. On the downside, below 0.7003 will resume the fall from 0.7295 and target 61.8% retracement of 0.6722 to 0.7295 at 0.6941 and below. However, sustained break of 0.7121 resistance will dampen this view and bring stronger rise to 0.7206 and above.

In the bigger picture, as long as 0.7393 resistance holds, we’d treat fall from 0.8135 as resuming long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 (2016 low) will confirm this bearish view and resume the down trend to 0.6008 (2008 low). However, firm break of 0.7393 will argue that fall from 0.8135 has completed. And corrective pattern from 0.6826 has started the third leg, targeting 0.8135 again.

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7063; (P) 0.7081; (R1) 0.7113; More…

No change in AUD/USD’s outlook. Consolidation from 0.7003 might extend. But upside should be limited by 0.7121 resistance to bring fall resumption. On the downside, below 0.7003 will resume the fall from 0.7295 and target 61.8% retracement of 0.6722 to 0.7295 at 0.6941 and below.

In the bigger picture, as long as 0.7393 resistance holds, we’d treat fall from 0.8135 as resuming long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 (2016 low) will confirm this bearish view and resume the down trend to 0.6008 (2008 low). However, firm break of 0.7393 will argue that fall from 0.8135 has completed. And corrective pattern from 0.6826 has started the third leg, targeting 0.8135 again.

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7061; (P) 0.7077; (R1) 0.7096; More…

AUD/USD’s recovery lost momentum after hitting 0.7091 and dropped notably. But it’s staying above 0.7003 temporary low. Intraday bias remains neutral first and more consolidation could still be seen. In case of another recovery, upside should be limited by 0.7121 resistance to bring fall resumption. On the downside, below 0.7003 will resume the fall from 0.7295 and target 61.8% retracement of 0.6722 to 0.7295 at 0.6941 and below.

In the bigger picture, as long as 0.7393 resistance holds, we’d treat fall from 0.8135 as resuming long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 (2016 low) will confirm this bearish view and resume the down trend to 0.6008 (2008 low). However, firm break of 0.7393 will argue that fall from 0.8135 has completed. And corrective pattern from 0.6826 has started the third leg, targeting 0.8135 again.

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7038; (P) 0.7058; (R1) 0.7089; More…

AUD/USD is staying in consolidation from 0.7003 temporary low. Intraday bias remains neutral first. Stronger recovery cannot be ruled out. But upside should be limited by 0.7121 resistance to bring fall resumption. On the downside, below 0.7003 will target 61.8% retracement of 0.6722 to 0.7295 at 0.6941 and below.

In the bigger picture, as long as 0.7393 resistance holds, we’d treat fall from 0.8135 as resuming long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 (2016 low) will confirm this bearish view and resume the down trend to 0.6008 (2008 low). However, firm break of 0.7393 will argue that fall from 0.8135 has completed. And corrective pattern from 0.6826 has started the third leg, targeting 0.8135 again.

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7015; (P) 0.7034; (R1) 0.7065; More…

Intraday bias in AUD/USD remains neutral for consolidation above 0.7003 temporary low. Stronger recovery cannot be ruled out. But upside should be limited by 0.7121 resistance to bring fall resumption. On the downside, below 0.7003 will target 61.8% retracement of 0.6722 to 0.7295 at 0.6941 and below.

In the bigger picture, as long as 0.7393 resistance holds, we’d treat fall from 0.8135 as resuming long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 (2016 low) will confirm this bearish view and resume the down trend to 0.6008 (2008 low). However, firm break of 0.7393 will argue that fall from 0.8135 has completed. And corrective pattern from 0.6826 has started the third leg, targeting 0.8135 again.

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AUD/USD Weekly Outlook

AUD/USD dropped to 0.7003 last week but formed a temporary low there and recovered. Initial bias is neutral this week for some consolidation first. Current development suggests that rebound from 0.6722 has completed at 0.7295 already. Upside of recovery from0.7003 should be limited by 0.7121 resistance to bring fall resumption. On the downside, below 0.7003 will target 61.8% retracement of 0.6722 to 0.7295 at 0.6941 and below.

In the bigger picture, as long as 0.7393 resistance holds, we’d treat fall from 0.8135 as resuming long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 (2016 low) will confirm this bearish view and resume the down trend to 0.6008 (2008 low). However, firm break of 0.7393 will argue that fall from 0.8135 has completed. And corrective pattern from 0.6826 has started the third leg, targeting 0.8135 again.

In the longer term picture, prior rejection by 55 month EMA maintained long term bearishness in AUD/USD. That is, down trend from 1.1079 (2011 high) is still in progress. Sustained break of 0.6826 will target 0.6008 low and then 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) 0.6995; (P) 0.7023; (R1) 0.7043; More…

AUD/USD is losing some downside momentum as seen in 4 hour MACD. But intraday bias stays on the downside with 0.7051 minor resistance intact. Fall from 0.7295 should target 61.8% retracement of 0.6722 to 0.7295 at 0.6941. Break will bring retest of 0.6722 low. On the upside, break of 0.7051 minor resistance will turn intraday bias neutral and bring consolidation, before staging another decline.

In the bigger picture, as long as 0.7393 resistance holds, we’d treat fall from 0.8135 as resuming long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 (2016 low) will confirm this bearish view and resume the down trend to 0.6008 (2008 low). However, firm break of 0.7393 will argue that fall from 0.8135 has completed. And corrective pattern from 0.6826 has started the third leg, targeting 0.8135 again.

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7005; (P) 0.7048; (R1) 0.7076; More…

Despite mild recovery today, intraday bias in AUD/USD remains on the downside for the moment. The rebound from 0.6722 should have completed at 0.7295 already. Further decline should be seen to 61.8% retracement of 0.6722 to 0.7295 at 0.6941. Break will bring retest of 0.6722 low. On the upside, above 0.7107 minor resistance will dampen this bearish view and turn intraday bias neutral first.

In the bigger picture, as long as 0.7393 resistance holds, we’d treat fall from 0.8135 as resuming long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 (2016 low) will confirm this bearish view and resume the down trend to 0.6008 (2008 low). However, firm break of 0.7393 will argue that fall from 0.8135 has completed. And corrective pattern from 0.6826 has started the third leg, targeting 0.8135 again.

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7064; (P) 0.7080; (R1) 0.7102; More…

AUD/USD drops to as low as 0.7028 today as fall from 0.7295 extends. Break of 0.7054 support completes a head and shoulder top pattern (ls: 0.7235, h: 0.7295, rs: 0.7206) and confirms completion of rebound from 0.6722. Intraday bias is back on the downside for 61.8% retracement of 0.6722 to 0.7295 at 0.6941. Break will bring retest of 0.6722 low. On the upside, above 0.7107 minor resistance will dampen this bearish view and turn intraday bias neutral first.

In the bigger picture, as long as 0.7393 resistance holds, we’d treat fall from 0.8135 as resuming long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 (2016 low) will confirm this bearish view and resume the down trend to 0.6008 (2008 low). However, firm break of 0.7393 will argue that fall from 0.8135 has completed. And corrective pattern from 0.6826 has started the third leg, targeting 0.8135 again.

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AUD/USD Daily Outlook

Daily Pivots: (S1) 0.7074; (P) 0.7092; (R1) 0.7110; More…

AUD/USD lost downside momentum ahead of 0.7054 support and intraday bias stays neutral first. On the downside, decisive break of 0.7054 support will complete a head and shoulder top pattern (ls: 0.7235, h: 0.7295, rs: 0.7206). That should confirm completion of rebound from 0.6722. Further decline should then be seen to 61.8% retracement of 0.6722 to 0.7295 at 0.6941 next. On the upside, though, break of 0.7206 will turn focus back to 0.7295 resistance instead.

In the bigger picture, as long as 0.7393 resistance holds, we’d treat fall from 0.8135 as resuming long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 (2016 low) will confirm this bearish view and resume the down trend to 0.6008 (2008 low). However, firm break of 0.7393 will argue that fall from 0.8135 has completed. And corrective pattern from 0.6826 has started the third leg, targeting 0.8135 again.

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AUD/USD Weekly Outlook

AUD/USD stayed in 0.7054/7206 last week and initial bias remains neutral this week first. On the downside, decisive break of 0.7054 support will confirm completion of a head and shoulder top pattern (ls: 0.7235, h: 0.7295, rs: 0.7206). That should confirm completion of rebound from 0.6722. Further decline should then be seen to 61.8% retracement of 0.6722 to 0.7295 at 0.6941 next. On the upside, though, break of 0.7206 will turn focus back to 0.7295 resistance instead.

In the bigger picture, as long as 0.7393 resistance holds, we’d treat fall from 0.8135 as resuming long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 (2016 low) will confirm this bearish view and resume the down trend to 0.6008 (2008 low). However, firm break of 0.7393 will argue that fall from 0.8135 has completed. And corrective pattern from 0.6826 has started the third leg, targeting 0.8135 again.

In the longer term picture, prior rejection by 55 month EMA maintained long term bearishness in AUD/USD. That is, down trend from 1.1079 (2011 high) is still in progress. Sustained break of 0.6826 will target 0.6008 low and then 61.8% projection of 1.1079 to 0.6826 from 0.8135 at 0.5507.

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