Daily Pivots: (S1) 0.6570; (P) 0.6623; (R1) 0.6707; More…

Focus is now directly on 0.6670 key resistance. Rejection from there, followed by 0.6505 support will indicate short term topping. Intraday bias is turned back to the downside for 0.6402 support first. However, sustained break of 0.6670 will carry larger bullish implications and target 0.7031 resistance next.

In the bigger picture,the larger down trend from 1.1079 (2011 high) might still extend. 61.8% projection of 1.1079 to 0.6826 from 0.8135 at 0.5507 is already met. Sustained break there will pave the way to 0.4773 (2001 low). On the upside, however, sustained break of 0.6607 will suggest medium term bottoming and turn focus to 0.7031 resistance next. Decisive break there will turn outlook bullish for 0.8135 (2017 high) next.

Daily Pivots: (S1) 0.7536; (P) 0.7562; (R1) 0.7578; More…

AUD/USD’s decline continues despite losing downside momentum as seen in 4 hour MACD. Deeper fall should be seen to 0.7500 key support level. Decisive break there will indicate medium term reversal and target 0.7328 support next. On the upside, above 0.7620 minor resistance will turn intraday bias neutral and bring consolidations. But recovery should be limited below 0.7812 resistance to bring fall resumption.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. It might still extend higher but 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. On the downside, break of 0.7500 support will now be an important signal that such corrective rebound is completed. In that case, AUD/USD would be heading back to 0.6826 low in medium term.

Daily Pivots: (S1) 0.7098; (P) 0.7119; (R1) 0.7137; More…

Intraday bias in AUD/USD remains neutral as consolidation from 0.7040 is in progress. Another rise cannot be ruled out. But upside should bel limited well below 0.7314 resistance to bring fall resumption. On the downside, break of 0.7040 will resume recent down trend to 61.8% projection of 0.7676 to 0.7084 from 0.7314 at 0.6948 next.

In the bigger picture, fall from 0.8135 is tentatively treated as resuming long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 will target 0.6008 key support next (2008 low). However, break of 0.7500 support turned resistance will argue that the corrective pattern from 0.6826 is going to extend with another rising leg before completion.

Daily Pivots: (S1) 0.7069; (P) 0.7088; (R1) 0.7121; More…

Intraday bias in AUD/USD remains neutral as consolidation from 0.7040 extends. While further rise cannot be ruled out, upside should be limited well below 0.7314 resistance bring fall resumption. On the downside, of 0.7040 will resume whole down trend from 0.8135 to 61.8% projection of 0.7676 to 0.7084 from 0.7314 at 0.6948 next.

In the bigger picture, fall from 0.8135 is tentatively treated as resuming long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 will target 0.6008 key support next (2008 low). However, break of 0.7500 support turned resistance will argue that the corrective pattern from 0.6826 is going to extend with another rising leg before completion.

Daily Pivots: (S1) 0.7376; (P) 0.7396; (R1) 0.7422; More…

Intraday bias in AUD/USD remains neutral as consolidation from 0.7309 is extending. On the upside, above 0.7483 resistance will bring stronger rebound. But upside should be limited below 0.7676 resistance to bring larger fall resumption eventually. On the downside, break of 0.7309 and sustained trading below 0.7328 cluster support (61.8% retracement of 0.6826 to 0.8135 at 0.7326) will extend the fall from 0.8135 to 0.7158 support next.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move that should be completed at 0.8135. Deeper decline would be seen back to retest 0.6826 low. This will now remain the favored case as long as 0.7676 resistance holds.

Daily Pivots: (S1) 0.6905; (P) 0.6946; (R1) 0.6980; More…

Intraday bias in AUD/USD stays mildly on the downside for the moment. Current fall is part of the corrective pattern from 0.8006. Deeper decline would be seen to for 0.6756 medium term fibonacci level next. On the upside, above 0.7027 minor resistance will turn intraday bias neutral first. But near term outlook will stay bearish as long as 0.7265 resistance holds.

In the bigger picture, price actions from 0.8006 are seen as a corrective pattern to rise from 0.5506 (2020 low) with fall from 0.7660 as the third leg. Deeper fall should be seen to 50% retracement of 0.5506 to 0.8006 at 0.6756. This coincides with 100% projection of 0.8006 to 0.7105 from 0.7660 at 0.6760. Strong support is expected from 0.6756/60 cluster to contain downside to complete the correction. However, sustained break of 0.6756/60 would argue that AUD/USD is indeed in a medium term down trend.

Daily Pivots: (S1) 0.7539; (P) 0.7565; (R1) 0.7598; More…

Intraday bias in AUD/USD remains neutral as the corrective rise from 0.7490 is still in progress. We’d expect recovery to be limited by 0.7631 resistance and bring fall resumption. As noted before, rise from 0.7150 has completed at 0.7740 already. Below 0.7490 will turn bias back to the downside and target 0.7144/7158 support zone. However, break of 0.7631 resistance will dampen our bearish view and turn bias back to the upside for 0.7740 instead.

In the bigger picture, we’re still treating price actions from 0.6826 low as a correction. And, as long as 38.2% retracement of 0.9504 to 0.6826 at 0.7849 holds, long term down trend from 1.1079 is expected to resume sooner or later. Break of 0.6826 low will target 0.6008 key support level. However, firm break of 0.7849 will indicate that rise from 0.6826 is developing into a medium term rebound, rather than a sideway pattern. In such case, stronger rise should be seek to 55 month EMA (now at 0.8185) and above.

Daily Pivots: (S1) 0.7960; (P) 0.7995; (R1) 0.8033; More…

Intraday bias in AUD/USD remains neutral as consolidation from 0.8038 is extending. As long as 0.7874 support holds, further rally should be seen to 0.8124 high. Break there will resume whole medium term rebound from 0.6826 and target key fibonacci level at 0.8451. On the downside, break of 0.7874 will indicate short term topping and turn bias to the downside for 55 day EMA (now at 0.7797) and below.

In the bigger picture, current development suggests that medium term rebound from 0.6826 is still in progress and could be resuming. Such rise could target 38.2% retracement of 1.1079 (2011 high) to 0.6826 (2016 low) at 0.8451. As such rise is seen as a corrective move, we’d expect strong resistance from 0.8451 to limit upside and bring reversal.

Daily Pivots: (S1) 0.6461; (P) 0.6491; (R1) 0.6513; More…

Intraday bias in AUD/USD is turned neutral with current recovery. But further decline is expected as long as 0.6621 resistance holds. Break of 0.6468 will resume the fall from 0.6870, as part of the down trend from 0.7156, to 61.8% projection of 0.6870 to 0.6524 from 0.6621 at 0.6407 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.

Daily Pivots: (S1) 0.6626; (P) 0.6656; (R1) 0.6701; More…

AUD/USD’s rise from 0.6457 is still in progress and intraday bias stays on the upside for 0.6817 key structural resistance. On the downside, though, break of 0.6578 minor support will retain near term bearishness, and turn bias back to the downside for retesting 0.6457 low instead.

In the bigger picture, rejection by 55 W EMA (now at 0.6811) keeps medium term outlook bearish. Current development suggests that down trend from 0.8006 (2021 high) is possibly still in progress. Retest of 0.6169 (2022 low) should be seen next. Firm break there will confirm down trend resumption. For now, this will remain the favored case as long as 0.6817 resistance holds.

Daily Pivots: (S1) 0.7739; (P) 0.7760; (R1) 0.7774; More…

A temporary low is in place at 0.7732 and intraday bias is turned neutral first. Another fall is expected as long as 0.7874 resistance holds. As noted before, rise from 0.7382 is possibly completed at 0.8124 already. Below 0.7732 will target medium term fibonacci level at 0.7628 first. Decisive break there will target 0.7328 key cluster support. On the upside, break of 0.7874 will argue that the decline is completed and turn bias back to the upside.

In the bigger picture, rise from 0.6826 medium term bottom is seen as corrective pattern. Current development suggests that it might be completed with three waves up to 0.8124 already. Break of 38.2% retracement of 0.6826 to 0.8124 at 0.7628 will firm this bearish case. And, decisive break of 0.7328 key cluster support (61.8% retracement at 0.7322) will confirm and bring retest of 0.6826 low. In case rise from 0.6826 resumes and extends, strong resistance should be seen at 38.2% retracement of 1.1079 to 0.6826 at 0.8451 to limit upside.

Daily Pivots: (S1) 0.7718; (P) 0.7738; (R1) 0.7766; More…

Range trading continues in AUD/USD and intraday bias remains neutral for the moment. On the upside, break of 0.7837 will suggest that the correction from 0.8006 has completed. Intraday bias will be turned back to the upside for retesting this high. On the downside, below 0.7620 will target 0.7563 support. Firm break of 0.7563 will indicate that deeper correction is underway, back towards 0.7413 resistance turned support.

In the bigger picture, whole down trend from 1.1079 (2001 high) should have completed at 0.5506 (2020 low) already. Rise from 0.5506 could either be the start of a long term up trend, or a corrective rise. Reactions to 0.8135 key resistance will reveal which case it is. But in any case, medium term rally is expected to continue as long as 0.7413 resistance turned support holds.

Daily Pivots: (S1) 0.7600; (P) 0.7637; (R1) 0.7661; More…

Intraday bias in AUD/USD stays neutral at this point and outlook is unchanged. Rebound from 0.7411 is seen as a correction. Hence, upside should be limited by 38.2% retracement of 0.8135 to 0.7144 at 0.7688. On the downside, below 0.7593 minor support will turn bias to the downside for 0.7475 first. Break there will likely resume larger fall through 0.7411 to 0.7328 cluster support (61.8% retracement of 0.6826 to 0.8135 at 0.7326). However, sustained break of 0.7688 will dampen our bearish view and target 61.8% retracement at 0.7585 instead.

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.

Daily Pivots: (S1) 0.6836; (P) 0.6871; (R1) 0.6894; More…

Intraday bias in AUD/USD remains neutral as consolidation from 0.6929 is extending. On the upside, break of 0.6929 will resume the rise from 0.6670 to 0.7082 key resistance next. On the downside, however, break of 0.6809 support will suggest that such rebound is completed. Intraday bias will be turned back to the downside for retesting 0.6670 low.

In the bigger picture, the case of medium term bullish reversal is building up with bullish convergence condition in weekly MACD. But there is no clear confirmation yet. As long as 0.7082 resistance holds, larger down trend from 0.8135 (2018 high) is still expect to continue to 0.6008 (2008 low). However, decisive break of 0.7082 will confirm medium term bottoming and bring stronger rally back to 55 month EMA (now at 0.7529).

Daily Pivots: (S1) 0.6665; (P) 0.6688; (R1) 0.6730; More…

AUD/USD is staying in consolidation from 0.6563 and intraday bias remains neutral first. Deeper decline is in favor as long as 0.6758 resistance holds. On the downside, decisive break of 0.6546 fibonacci level will carry larger bearish implication. On the upside, however, break of 0.6758 resistance will now be a strong signal of bullish reversal and turn bias back to the upside.

In the bigger picture, as long as 61.8% retracement of 0.6169 to 0.7156 at 0.6546 holds, the decline from 0.7156 is seen as a correction to rally from 0.6169 (2022 low) only. Another rise should still be seen through 0.7156 at a later stage. However, sustained break of 0.6546 will raise the chance of long term down trend resumption through 0.6169 low.

Daily Pivots: (S1) 0.6500; (P) 0.6565; (R1) 0.6603; More…

Intraday bias in AUD/USD remains on the downside for the moment. Rebound from 0.6457 could have completed at 0.6894 already. Deeper fall would be seen to retest 0.6457 first. Break there will resume the fall from 0.7156 to 100% projection of 0.7156 to 0.6457 from 0.6894 at 0.6195. On the upside, above 0.6628 minor resistance will turn intraday bias neutral first.

In the bigger picture, outlook is mixed for now as AUD/USD failed to sustain above both 55 D EMA (now at 0.6701) and 55 W EMA (now at 0.6784). On the upside, break of 0.65898 resistance will solidify the case that down trend from 0.8006 (2021 high) has already completed, and target 0.7156 resistance for confirmation. However, break of 0.6457 will likely resume the down trend through 0.6169 (2022 low).

Daily Pivots: (S1) 0.6477; (P) 0.6523; (R1) 0.6556; More…

AUD/USD’s retreat from 0.6569 continues today and focus is now on 0.6444 resistance turned support. Sustained break there should confirm short term topping, on bearish divergence in 4 hour MACD. Intraday bias will be turned back to the downside for 0.6253 support first. Further break there will indicate completion of whole rebound from 0.5506 and turn outlook bearish. Though, above 0.6569 will extend the rebound to 0.6670 key resistance.

In the bigger picture, there is no clear sign of trend reversal yet. The larger down trend from 1.1079 (2011 high) is still in favor to extend. 61.8% projection of 1.1079 to 0.6826 from 0.8135 at 0.5507 is already met. Sustained break there will pave the way to 0.4773 (2001 low). On the upside, however, sustained break of 0.6607 will suggest medium term bottoming and turn focus to 0.7031 resistance next.

Daily Pivots: (S1) 0.6942; (P) 0.6962; (R1) 0.6998; More…

Focus is now on 0.6988 support turned resistance in AUD/USD. Sustained break there will confirm short term bottoming at 0.6864. More importantly, the decline from 0.7295 could have completed with three waves down to 0.6864 too. Further rise should then be seen back to 0.7205 resistance next. On the downside, though, break of 0.6938 minor support will turn bias back to the downside for 0.6864 low instead.

In the bigger picture, with 0.7393 key resistance intact, medium term outlook remains bearish. The decline from 0.8135 (2018 high) is seen 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.

AUD/USD’s rebound from 0.6991 resumed last week and hit as high as 0.7399. Initial bias remains on the upside this week for retesting 0.7413 high first. Firm break there will resume whole rebound from 0.5506 and target 0.7635 long term fibonacci level. On the downside, however, break of 0.7265 support will extend the consolidation from 0.7413 with another falling leg. Intraday bias will be turned back to the downside for 0.6991 support instead.

In the bigger picture, the sustained trading above 55 week EMA (now at 0.6978) is a sign of medium term bullishness. Nevertheless, AUD/USD will still need to overcome 38.2% retracement of 1.1079 (2011 high) to 0.5506 (2020 low) at 0.7635 decisively to indicate completion of long term down trend from 1.1079. Otherwise, current rebound from 0.5506 could still turn out to be a correction in the long term down trend.

In the longer term picture, bullish convergence condition in monthly MACD is a condition for long term bullish reversal. Focus will be on 38.2% retracement of 1.1079 (2011 high) to 0.5506 (2020 low) at 0.7635. Decisive break there should confirm reversal and target 61.8% retracement at 0.8950. Though, rejection by 0.7635 will retain long term bearishness for another low through 0.5506 at a later stage.

Daily Pivots: (S1) 0.7181; (P) 0.7202; (R1) 0.7241; More…

Intraday bias in AUD/USD remains neutral for the moment. On the upside, decisive break of 0.7314 will indicate medium term reversal. Further rally should be seen to 38.2% retracement of 0.8135 to 0.7020 at 0.7446 next. However, break of 0.7164 will suggest that rebound from 0.7020 has completed and maintain medium term bearishness. Intraday bias would be turned back to the downside for retesting 0.7020 low.

In the bigger picture, as long as 0.7314 resistance holds, fall from 0.8135 is tentatively treated as resuming long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 will target 0.6008 key support next (2008 low). However, firm break of 0.7314 will suggest that whole decline from 0.8135 has completed. And, the corrective pattern from 0.6826 (2016 low) is extending with another rising leg towards 0.8135 before completion.