Daily Pivots: (S1) 0.7461; (P) 0.7485; (R1) 0.7521; More…

With 0.7351 minor support intact, the rebound from 0.7158 would extend through 61.8% retracement of 0.7777 to 0.7518 at 0.7541. At this point, we’d expect strong resistance from 0.7777/7833 to limit upside. On the downside, below 0.7351 minor support will turn bias back to the downside for 0.7144 key support level.

In the bigger picture, AUD/USD is staying inside long term falling channel and it’s likely that the down trend from 1.1079 is still in progress. Break of 0.6826 low will confirm this bearish case. We’ll be looking for bottoming sign again as it approaches 0.6008 key support level. Meanwhile, sustained break of 0.7833 resistance will be a strong sign of medium term reversal.

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AUD/USD’s rebound from 0.7158 extended last week and the stronger than expected rise is mixing up outlook. Initial bias stays on the upside this week for 61.8% retracement of 0.7777 to 0.7518 at 0.7541. At this point, we’d expect strong resistance from 0.7777/7833 to limit upside. On the downside, below 0.7351 minor support will turn bias back to the downside for 0.7144 key support level.

In the bigger picture, AUD/USD is staying inside long term falling channel and it’s likely that the down trend from 1.1079 is still in progress. Break of 0.6826 low will confirm this bearish case. We’ll be looking for bottoming sign again as it approaches 0.6008 key support level. Meanwhile, sustained break of 0.7833 resistance will be a strong sign of medium term reversal.

In the longer term picture, while the down trend from 1.1079 might extend lower, we’re not anticipating a break of 0.6008 (2008 low) yet. We’ll look for bottoming above there to reverse the medium term trend.

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Daily Pivots: (S1) 0.7437; (P) 0.7477; (R1) 0.7525; More…

Intraday bias in AUD/USD remains on the upside as the rebound from 0.7158 extends. Further rise would be seen through 61.8% retracement of 0.7777 to 0.7518 at 0.7541. At this point, we’d expect strong resistance from 0.7777/7833 to limit upside. On the downside, below 0.7351 minor support will turn bias back to the downside for 0.7144 key support level.

In the bigger picture, AUD/USD is staying inside long term falling channel and it’s likely that the down trend from 1.1079 is still in progress. Break of 0.6826 low will confirm this bearish case and target 61.8% projection of 0.9504 to 0.6826 from 0.7777 at 0.6122 next. We’ll be looking for bottoming sign again as it approaches 0.6008 key support level. Meanwhile, sustained break of 0.7833 resistance will be a strong sign of medium term reversal.

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Daily Pivots: (S1) 0.7371; (P) 0.7421; (R1) 0.7490; More…

The rebound from 0.7158 extends higher and strong break of 28.2% retracement of 0.7777 to 0.7518 at 0.7394 suggests that fall from 0.7777 is completed. Intraday bias stays on the upside and further rally would now be seen back to 61.8% retracement at 0.7541 and above. At this point, we’d expect strong resistance from 0.7777/7833 to limit upside. On the downside, below 0.7351 minor support will turn bias back to the downside for 0.7144 key support level.

In the bigger picture, AUD/USD is staying inside long term falling channel and it’s likely that the down trend from 1.1079 is still in progress. Break of 0.6826 low will confirm this bearish case and target 61.8% projection of 0.9504 to 0.6826 from 0.7777 at 0.6122 next. We’ll be looking for bottoming sign again as it approaches 0.6008 key support level. Meanwhile, sustained break of 0.7833 resistance will be a strong sign of medium term reversal.

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Daily Pivots: (S1) 0.7339; (P) 0.7361; (R1) 0.7392; More…

Intraday bias in AUD/USD remains on the upside as rebound from 0.7158 extends. As long as 38.2% retracement of 0.7777 to 0.7518 at 0.7394 holds, which is close to the falling 55 day EMA, outlook stays cautiously bearish. Below 0.7287 minor support will turn bias back to the downside. Firm break of 0.7144 will confirm our bearish view that corrective pattern from 0.6826 has completed and larger down trend is resuming for another low. Though, sustained trading above 0.7394 will turn focus back to 0.7777/7833 resistance zone.

In the bigger picture, AUD/USD is staying inside long term falling channel and it’s likely that the down trend from 1.1079 is still in progress. Break of 0.6826 low will confirm this bearish case and target 61.8% projection of 0.9504 to 0.6826 from 0.7777 at 0.6122 next. We’ll be looking for bottoming sign again as it approaches 0.6008 key support level. Meanwhile, sustained break of 0.7833 resistance will be a strong sign of medium term reversal.

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Daily Pivots: (S1) 0.7302; (P) 0.7338; (R1) 0.7388; More…

AUD/USD’s rebound from 0.7158 resumed after brief retreat and intraday bias is back on the upside. Near term outlook was mixed up as the pair defended key support level at 0.7144. Nonetheless, deeper fall is in favor a long as 38.2% retracement of 0.7777 to 0.7518 at 0.7394 holds, which is close to the falling 55 day EMA. Below 0.7287 minor support will turn bias back to the downside. Firm break of 0.7144 will confirm our bearish view that corrective pattern from 0.6826 has completed and larger down trend is resuming for another low. Though, sustained trading above 0.7394 will turn focus back to 0.7777/7833 resistance zone.

In the bigger picture, AUD/USD is staying inside long term falling channel and it’s likely that the down trend from 1.1079 is still in progress. Break of 0.6826 low will confirm this bearish case and target 61.8% projection of 0.9504 to 0.6826 from 0.7777 at 0.6122 next. We’ll be looking for bottoming sign again as it approaches 0.6008 key support level. Meanwhile, sustained break of 0.7833 resistance will be a strong sign of medium term reversal.

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Daily Pivots: (S1) 0.7269; (P) 0.7312; (R1) 0.7335; More…

Intraday bias in AUD/USD remains neutral for the moment. Outlook is mixed up as the pair defended key support level at 0.7144. Nonetheless, deeper fall is in favor a long as 38.2% retracement of 0.7777 to 0.7518 at 0.7394 holds, which is close to the falling 55 day EMA. Firm break of 0.7144 will confirm our bearish view that corrective pattern from 0.6826 has completed and larger down trend is resuming for another low. Though, sustained trading above 0.7394 will turn focus back to 0.7777/7833 resistance zone.

In the bigger picture, AUD/USD is staying inside long term falling channel and it’s likely that the down trend from 1.1079 is still in progress. Break of 0.6826 low will confirm this bearish case and target 61.8% projection of 0.9504 to 0.6826 from 0.7777 at 0.6122 next. We’ll be looking for bottoming sign again as it approaches 0.6008 key support level. Meanwhile, sustained break of 0.7833 resistance will be a strong sign of medium term reversal.

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AUD/USD rose to as high as 0.7355 last week but lost momentum since then. Initial bias is neutral this week first. The stronger than expected rebound mixed up the outlook a bit, considering that AUD/USD defended key support level at 0.7144. Nonetheless, deeper fall is in favor a long as 38.2% retracement of 0.7777 to 0.7518 at 0.7394 holds, which is close to the falling 55 day EMA. Firm break of 0.7144 will confirm our bearish view that corrective pattern from 0.6826 has completed and larger down trend is resuming for another low. Though, sustained trading above 0.7394 will turn focus back to 0.7777/7833 resistance zone.

In the bigger picture, AUD/USD is staying inside long term falling channel and it’s likely that the down trend from 1.1079 is still in progress. Break of 0.6826 low will confirm this bearish case and target 61.8% projection of 0.9504 to 0.6826 from 0.7777 at 0.6122 next. We’ll be looking for bottoming sign again as it approaches 0.6008 key support level. Meanwhile, sustained break of 0.7833 resistance will be a strong sign of medium term reversal.

In the longer term picture, while the down trend from 1.1079 might extend lower, we’re not anticipating a break of 0.6008 (2008 low) yet. We’ll look for bottoming above there to reverse the medium term trend.

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Daily Pivots: (S1) 0.7289; (P) 0.7323; (R1) 0.7373; More…

Intraday bias remains mildly on the upside as the rise from 0.7158 would extend higher to 38.2% retracement of 0.7777 to 0.7518 at 0.7394, which is close to 55 days EMA. Sustained break there will turn focus back to 0.7777/7833 resistance zone. Meanwhile, rejection from there will retain bearishness for 0.7144 support. Break of 0.7144 support will likely extend the larger down trend through 0.6826.

In the bigger picture, AUD/USD is staying inside long term falling channel and it’s likely that the down trend from 1.1079 is still in progress. Break of 0.6826 low will confirm this bearish case and target 61.8% projection of 0.9504 to 0.6826 from 0.7777 at 0.6122 next. We’ll be looking for bottoming sign again as it approaches 0.6008 key support level. Meanwhile, sustained break of 0.7833 resistance will be a strong sign of medium term reversal.

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Daily Pivots: (S1) 0.7235; (P) 0.7260; (R1) 0.7308; More…

AUD/USD’s rebound from 0.7158 extends higher today and the breach of 0.7310 support turned resistance indicate that a short term bottom is in place. And there is risk that whole decline from 0.7777 is finished too. Intraday bias is back on the upside for 38.2% retracement of 0.7777 to 0.7518 at 0.7394, which is close to 55 days EMA. Sustained break there will turn focus back to 0.7777/7833 resistance zone. Meanwhile, rejection from there will retain bearishness for 0.7144 support. Break of 0.7144 support will likely extend the larger down trend through 0.6826.

In the bigger picture, AUD/USD is staying inside long term falling channel and it’s likely that the down trend from 1.1079 is still in progress. Break of 0.6826 low will confirm this bearish case and target 61.8% projection of 0.9504 to 0.6826 from 0.7777 at 0.6122 next. We’ll be looking for bottoming sign again as it approaches 0.6008 key support level. Meanwhile, sustained break of 0.7833 resistance will be a strong sign of medium term reversal.

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Daily Pivots: (S1) 0.7182; (P) 0.7214; (R1) 0.7233; More…

The consolidation from 0.7158 is still in progress and intraday bias in AUD/USD remains neutral. More consolidations would be seen. In case of stronger recovery, upside should be limited by 0.7310 support turned resistance and bring fall resumption. As noted before, the whole corrective pattern from 0.6826 bottom should have finished. Break of 0.7144 support will likely extend the larger down trend through 0.6826.

In the bigger picture, AUD/USD is staying inside long term falling channel and it’s likely that the down trend from 1.1079 is still in progress. Break of 0.6826 low will confirm this bearish case and target 61.8% projection of 0.9504 to 0.6826 from 0.7777 at 0.6122 next. We’ll be looking for bottoming sign again as it approaches 0.6008 key support level. Meanwhile, sustained break of 0.7833 resistance will be a strong sign of medium term reversal.

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Daily Pivots: (S1) 0.7182; (P) 0.7214; (R1) 0.7233; More…

AUD/USD recovered ahead of 0.7158 temporary low and intraday bias stays neutral. More consolidations would be seen. In case of another recovery, upside should be limited by 0.7310 support turned resistance and bring fall resumption. As noted before, the whole corrective pattern from 0.6826 bottom should have finished. Break of 0.7144 support will likely extend the larger down trend through 0.6826.

In the bigger picture, AUD/USD is staying inside long term falling channel and it’s likely that the down trend from 1.1079 is still in progress. Break of 0.6826 low will confirm this bearish case and target 61.8% projection of 0.9504 to 0.6826 from 0.7777 at 0.6122 next. We’ll be looking for bottoming sign again as it approaches 0.6008 key support level. Meanwhile, sustained break of 0.7833 resistance will be a strong sign of medium term reversal.

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