AUD/USD’s recovery last week was capped below 55 day EMA and reversed. Initial bias is now back on the downside for 0.6563 low first. 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.

In the long term picture, initial rejection by 55 month EMA (now at 0.7158) retains long term bearishness. That is, down trend from 1.1079 (2011 high) could still resume through 0.5506 (2020 low) on resumption.

Daily Pivots: (S1) 0.6652; (P) 0.6704; (R1) 0.6737; More…

Break of 0.6648 minor support argues that AUD/USD’s recovery from 0.6563 has completed at 0.6758, ahead of 55 day EMA. Intraday bias is back on the downside for 0.6563 low and 0.6546 fibonacci level. Decisive break there will resume whole fall from 0.7156 and carries larger bearish implications.

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) 0.6652; (P) 0.6704; (R1) 0.6737; More…

Intraday bias in AUD/USD is turned neutral with current retreat. Above 0.6578 will resume the rebound from 0.6563 to 55 day EMA (now at 0.6769). Sustained break there will pave the way back to retest 0.7156 high. On the downside, however, below 0.6648 minor support will turn intraday bias back to the downside for 0.6563 low.

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) 0.6643; (P) 0.6701; (R1) 0.6741; More…

AUD/USD’s break of 0.6729 resistance should confirm short term bottoming at 0.6563. Fall from 0.7156 might have also completed just ahead of 0.6546 fibonacci level. Intraday bias is on the upside for 55 day EMA (now at 0.6773). Sustained break there will pave the way back to retest 0.7156 high. On the downside, however, below 0.6648 minor support will turn intraday bias neutral again first.

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) 0.6638; (P) 0.6682; (R1) 0.6715; More…

Range trading continues in AUD/USD and intraday bias stays neutral. On the upside, another rise through 0.6729 should confirm short term bottoming at 0.6563, just ahead of 0.6546 fibonacci level. Intraday bias will be back on the upside for 55 day EMA (now at 0.6774). Sustained break there will pave the way back to retest 0.7156 high. On the downside, however, sustained break of 0.6546 will carry larger bearish implication and target 0.6169 low.

In the bigger picture, rise from 0.6169 (2022 low) has completed at 0.7156, after rejection by 55 month EMA (now at 0.7158). Deeper decline would then be see back to 61.8% retracement of 0.6169 to 0.7156 at 0.6546, even as a corrective fall. Sustained break there will raise the chance of long term down trend resumption through 0.6169 low.

Daily Pivots: (S1) 0.6679; (P) 0.6705; (R1) 0.6743; More…

Intraday bias in AUD/USD remains neutral for the moment. On the upside, another rise through 0.6729 should confirm short term bottoming at 0.6563, just ahead of 0.6546 fibonacci level. Intraday bias will be back on the upside for 55 day EMA (now at 0.6778). Sustained break there will pave the way back to retest 0.7156 high. On the downside, however, sustained break of 0.6546 will carry larger bearish implication and target 0.6169 low.

In the bigger picture, rise from 0.6169 (2022 low) has completed at 0.7156, after rejection by 55 month EMA (now at 0.7158). Deeper decline would then be see back to 61.8% retracement of 0.6169 to 0.7156 at 0.6546, even as a corrective fall. Sustained break there will raise the chance of long term down trend resumption through 0.6169 low.

Daily Pivots: (S1) 0.6657; (P) 0.6691; (R1) 0.6734; More…

Intraday bias in AUD/USD remains neutral at this point. On the upside, another rise through 0.6729 should confirm short term bottoming at 0.6563, just ahead of 0.6546 fibonacci level. Intraday bias will be back on the upside for 55 day EMA (now at 0.6780). Sustained break there will pave the way back to retest 0.7156 high. On the downside, however, sustained break of 0.6546 will carry larger bearish implication and target 0.6169 low.

In the bigger picture, rise from 0.6169 (2022 low) has completed at 0.7156, after rejection by 55 month EMA (now at 0.7158). Deeper decline would then be see back to 61.8% retracement of 0.6169 to 0.7156 at 0.6546, even as a corrective fall. Sustained break there will raise the chance of long term down trend resumption through 0.6169 low.

While AUD/USD recovered last week, it failed to break through 0.6715 resistance decisively. Initial bias remains neutral first. On the upside, decisive break of 0.6715 will confirm short term bottoming at 0.6563, just ahead of 0.6546 fibonacci level. Intraday bias will be back on the upside for 55 day EMA (now at 0.6784). Sustained break there will pave the way back to retest 0.7156 high. On the downside, however, sustained break of 0.6546 will carry larger bearish implication and target 0.6169 low.

In the bigger picture, rise from 0.6169 (2022 low) has completed at 0.7156, after rejection by 55 month EMA (now at 0.7158). Deeper decline would then be see back to 61.8% retracement of 0.6169 to 0.7156 at 0.6546, even as a corrective fall. Sustained break there will raise the chance of long term down trend resumption through 0.6169 low.

In the long term picture, initial rejection by 55 month EMA (now at 0.7158) retains long term bearishness. That is, down trend from 1.1079 (2011 high) could still resume through 0.5506 (2020 low) on resumption.

Daily Pivots: (S1) 0.6623; (P) 0.6645; (R1) 0.6680; More…

Intraday bias in AUD/USD stays neutral first with focus on 0.6715 resistance. Decisive break there will confirm short term bottoming at 0.6563, just ahead of 0.6546 fibonacci level. Intraday bias will be back on the upside for 55 day EMA (now at 0.6784). Sustained break there will pave the way back to retest 0.7156 high. On the downside, however, sustained break of 0.6546 will carry larger bearish implication and target 0.6169 low.

In the bigger picture, rise from 0.6169 (2022 low) has completed at 0.7156, after rejection by 55 month EMA (now at 0.7158). Deeper decline would then be see back to 61.8% retracement of 0.6169 to 0.7156 at 0.6546, even as a corrective fall. Sustained break there will raise the chance of long term down trend resumption through 0.6169 low.

Daily Pivots: (S1) 0.6569; (P) 0.6640; (R1) 0.6691; More…

Intraday bias in AUD/USD remains neutral for the moment as range trading continues above 0.6563. Focus stays on whether 0.6546 fibonacci level would provide strong support to bring reversal. On the upside, firm break of 0.6715 resistance will indicate short term bottoming, and turn bias back to the upside for rebound to 55 day EMA (now at 0.6787) and above. However, sustained break of 0.6546 will carry larger bearish implication and target 0.6169 low.

In the bigger picture, rise from 0.6169 (2022 low) has completed at 0.7156, after rejection by 55 month EMA (now at 0.7158). Deeper decline would then be see back to 61.8% retracement of 0.6169 to 0.7156 at 0.6546, even as a corrective fall. Sustained break there will raise the chance of long term down trend resumption through 0.6169 low.

Daily Pivots: (S1) 0.6645; (P) 0.6670; (R1) 0.6709; More…

Intraday bias in AUD/USD stays neutral as it’s still struggling to break through 0.6694 resistance decisively. Focus is on whether 0.6546 fibonacci level would provide strong support to bring reversal. On the upside,firm break of 0.6694 support turned resistance will indicate short term bottoming, and turn bias back to the upside for rebound to 55 day EMA (now at 0.6795). However, sustained break of 0.6546 will carry larger bearish implication and target 0.6169 low.

In the bigger picture, rise from 0.6169 (2022 low) has completed at 0.7156, after rejection by 55 month EMA (now at 0.7158). Deeper decline would then be see back to 61.8% retracement of 0.6169 to 0.7156 at 0.6546, even as a corrective fall. Sustained break there will raise the chance of long term down trend resumption through 0.6169 low.

Daily Pivots: (S1) 0.6551; (P) 0.6596; (R1) 0.6626; More…

AUD/USD failed to sustain above 0.6694 resistance so far and intraday bias remains neutral. . Focus is on whether 0.6546 fibonacci level would provide strong support to bring reversal. On the upside,firm break of 0.6694 support turned resistance will indicate short term bottoming, and turn bias back to the upside for rebound to 55 day EMA (now at 0.6798). However, sustained break of 0.6546 will carry larger bearish implication and target 0.6169 low.

In the bigger picture, rise from 0.6169 (2022 low) has completed at 0.7156, after rejection by 55 month EMA (now at 0.7158). Deeper decline would then be see back to 61.8% retracement of 0.6169 to 0.7156 at 0.6546, even as a corrective fall. Sustained break there will raise the chance of long term down trend resumption through 0.6169 low.

Daily Pivots: (S1) 0.6551; (P) 0.6596; (R1) 0.6626; More…

AUD/USD’s recovery from 0.6563 continues today but stays below 0.6694 support turned resistance. Intraday bias remains neutral at this point. Focus is on whether 0.6546 fibonacci level would provide strong support to bring reversal. On the upside, break of 0.6694 support turned resistance will indicate short term bottoming, and turn bias back to the upside for rebound to 55 day EMA (now at 0.6803). However, sustained break of 0.6546 will carry larger bearish implication and target 0.6169 low.

In the bigger picture, rise from 0.6169 (2022 low) has completed at 0.7156, after rejection by 55 month EMA (now at 0.7158). Deeper decline would then be see back to 61.8% retracement of 0.6169 to 0.7156 at 0.6546, even as a corrective fall. Sustained break there will raise the chance of long term down trend resumption through 0.6169 low.

AUD/USD’s decline from 0.7156 extended to as low as 0.6563 last week but lost momentum. Initial bias stays neutral this week first. Focus is on whether 0.6546 fibonacci level would provide strong support to bring reversal. On the upside, break of 0.6694 support turned resistance will indicate short term bottoming, and turn bias back to the upside for rebound to 55 day EMA (now at 0.6808). However, sustained break of 0.6546 will carry larger bearish implication and target 0.6169 low.

In the bigger picture, rise from 0.6169 (2022 low) has completed at 0.7156, after rejection by 55 month EMA (now at 0.7158). Deeper decline would then be see back to 61.8% retracement of 0.6169 to 0.7156 at 0.6546, even as a corrective fall. Sustained break there will raise the chance of long term down trend resumption through 0.6169 low.

In the long term picture, initial rejection by 55 month EMA (now at 0.7164) retains long term bearishness. That is, down trend from 1.1079 (2011 high) could still resume through 0.5506 (2020 low) on resumption.

Daily Pivots: (S1) 0.6565; (P) 0.6601; (R1) 0.6625; More…

Intraday bias in AUD/USD remains neutral at this point. On the upside, break of 0.6694 support turned resistance will indicate short term bottoming, and turn bias back to the upside for rebound to 55 day EMA (now at 0.6809). However, sustained break of 161.8% projection of of 0.6854 to 0.7028 from 0.6854 at 0.6539 will carry larger bearish implication and target 0.6169 low again.

In the bigger picture, rise from 0.6169 (2022 low) has completed at 0.7156, after rejection by 55 month EMA (now at 0.7164). Deeper decline would then be see back to 61.8% retracement of 0.6169 to 0.7156 at 0.6546, even as a corrective fall. Sustained break there will raise the chance of long term down trend resumption through 0.6169 low.

Daily Pivots: (S1) 0.6562; (P) 0.6595; (R1) 0.6623; More…

Intraday bias in AUD/USD is turned neutral first as it recovered ahead of 161.8% projection of of 0.6854 to 0.7028 from 0.6854 at 0.6539, with 4 hour MACD crossed above signal line. On the upside, break of 0.6694 support turned resistance will indicate short term bottoming, and turn bias back to the upside for rebound to 55 day EMA (now at 0.6825). On the downside, however, sustained break of 0.6539 will pave the way to retest 0.6169 low.

In the bigger picture, rise from 0.6169 (2022 low) has completed at 0.7156, after rejection by 55 month EMA (now at 0.7164). Deeper decline would then be see back to 61.8% retracement of 0.6169 to 0.7156 at 0.6546, even as a corrective fall. Sustained break there will raise the chance of long term down trend resumption through 0.6169 low.

Daily Pivots: (S1) 0.6527; (P) 0.6637; (R1) 0.6694; More…

Intraday bias in AUD/USD remains on the downside at this point. Fall from 0.7159 should target 161.8% projection of of 0.6854 to 0.7028 from 0.6854 at 0.6539. Some support could be seen there to bring recovery. Above 0.6694 resistance will turn bias back to the upside for recovery. However, sustained break of 0.6539 will pave the way back towards 0.6169 low.

In the bigger picture, rise from 0.6169 (2022 low) has completed at 0.7156, after rejection by 55 month EMA (now at 0.7164). Deeper decline would then be see back to 61.8% retracement of 0.6169 to 0.7156 at 0.6546, even as a corrective fall. Sustained break there will raise the chance of long term down trend resumption through 0.6169 low.

Daily Pivots: (S1) 0.6708; (P) 0.6739; (R1) 0.6762; More…

AUD/USD’s break of 0.6693 confirms resumption of the decline from 0.7156. The development also argues that rise from 0.6169 has finished. Intraday bias is back on the downside. Next target is 161.8% projection of of 0.6854 to 0.7028 from 0.6854 at 0.6539. For now, break of 0.6782 resistance is needed to indicate short term bottoming. Otherwise, outlook will stay bearish in case of recovery.

In the bigger picture, the break of 0.6721 structural support suggest that rise from 0.6169 (2022 low) has completed at 0.7156, after rejection by 55 month EMA (now at 0.7164). Deeper decline would then be see back to 61.8% retracement of 0.6169 to 0.7156 at 0.6546, even as a corrective fall. Sustained break there will bring retest of 0.6169 low.

Daily Pivots: (S1) 0.6708; (P) 0.6739; (R1) 0.6762; More…

Immediate focus is now on 0.6693 support in AUD/USD. Firm break there will l resume the fall from 0.7156 to 161.8% projection of of 0.6854 to 0.7028 from 0.6854 at 0.6539. Nevertheless, break of 0.6782 resistance should now indicate short term bottoming, and turn bias back to the upside for stronger rebound.

In the bigger picture, focus is staying on 0.6721 structural support. Sustained break there will argue that whole rise from 0.6169 (2022 low) has completed at 0.7156, after rejection by 55 month EMA (now at 0.7164). Deeper decline would then be see back to 61.8% retracement of 0.6169 to 0.7156 at 0.6546, even as a corrective fall. Nevertheless, strong rebound from current level will retain medium term bullishness for another rise through 0.7156 later.

Daily Pivots: (S1) 0.6737; (P) 0.6756; (R1) 0.6788; More…

Intraday bias in AUD/USD remains neutral for the moment. Deeper decline is expected as long as 0.6854 support turned resistance holds. Break of 0.6693 will resume the fall from 0.7156 to 161.8% projection of of 0.6854 to 0.7028 from 0.6854 at 0.6539. Nevertheless, firm break of 0.6854 will argue that such decline is finished, and revive near term bullishness.

In the bigger picture, focus is staying on 0.6721 structural support. Sustained break there will argue that whole rise from 0.6169 (2022 low) has completed at 0.7156, after rejection by 55 month EMA (now at 0.7164). Deeper decline would then be see back to 61.8% retracement of 0.6169 to 0.7156 at 0.6546, even as a corrective fall. Nevertheless, strong rebound from current level will retain medium term bullishness for another rise through 0.7156 later.