Daily Pivots: (S1) 0.7327; (P) 0.7366; (R1) 0.7388; More…

AUD/USD’s fall from 0.7660 resumed after brief recovery and intraday bias is back on the downside. Deeper fall would be seen back to 0.7164 support. On the upside, above 0.7492 minor resistance will turn bias back to the upside for 0.7660. Firm break there will resume larger rise from 0.6991 to retest 0.8006 high.

In the bigger picture, correction from 0.8006 could have completed at 0.6966, after drawing support from 0.6991. That is, up trend from 0.5506 (2020 low) might be ready to resume. Firm break of 0.8006 will target 61.8% projection of 0.5506 to 0.8006 from 0.6966 at 0.8511 next. This will remain the favored case as long as 0.7164 support holds.

Daily Pivots: (S1) 0.7406; (P) 0.7440; (R1) 0.7489; More…

AUD/USD recovered again after dipping to 0.7390 and intraday bias remains neutral. On the downside, below 0.7390 will resume the fall from 0.7660. On the upside, above 0.7518 minor resistance will turn bias back to the upside for 0.7660. Firm break there will resume larger rise from 0.6991 to retest 0.8006 high.

In the bigger picture, correction from 0.8006 could have completed at 0.6966, after drawing support from 0.6991. That is, up trend from 0.5506 (2020 low) might be ready to resume. Firm break of 0.8006 will target 61.8% projection of 0.5506 to 0.8006 from 0.6966 at 0.8511 next. This will remain the favored case as long as 0.7164 support holds.

Daily Pivots: (S1) 0.7405; (P) 0.7449; (R1) 0.7499; More…

Intraday bias in AUD/USD is turned neutral with current recovery. On the downside, below 0.7398 will resume the fall from 0.7660. On the upside, above 0.7518 minor resistance will turn bias back to the upside for 0.7660. Firm break there will resume larger rise from 0.6991 to retest 0.8006 high.

In the bigger picture, correction from 0.8006 could have completed at 0.6966, after drawing support from 0.6991. That is, up trend from 0.5506 (2020 low) might be ready to resume. Firm break of 0.8006 will target 61.8% projection of 0.5506 to 0.8006 from 0.6966 at 0.8511 next. This will remain the favored case as long as 0.7164 support holds.

Daily Pivots: (S1) 0.7401; (P) 0.7433; (R1) 0.7453; More…

Intraday bias in AUD/USD remains mildly on the downside for the moment. Pull back from 0.7660 short term top is in progress for 55 day EMA (now at 0.7349). On the upside, above 0.7518 minor resistance will turn bias back to the upside for 0.7660. Firm break there will resume larger rise from 0.6991 to retest 0.8006 high.

In the bigger picture, correction from 0.8006 could have completed at 0.6966, after drawing support from 0.6991. That is, up trend from 0.5506 (2020 low) might be ready to resume. Firm break of 0.8006 will target 61.8% projection of 0.5506 to 0.8006 from 0.6966 at 0.8511 next. This will remain the favored case as long as 0.7164 support holds.

Daily Pivots: (S1) 0.7427; (P) 0.7460; (R1) 0.7493; More…

Intraday bias in AUD/USD remains on the downside at this point. Pull back from 0.7660 short term top is in progress for 55 day EMA (now at 0.7346). On the upside, above 0.7518 minor resistance will turn bias back to the upside for 0.7660. Firm break there will resume larger rise from 0.6991 to retest 0.8006 high.

In the bigger picture, correction from 0.8006 could have completed at 0.6966, after drawing support from 0.6991. That is, up trend from 0.5506 (2020 low) might be ready to resume. Firm break of 0.8006 will target 61.8% projection of 0.5506 to 0.8006 from 0.6966 at 0.8511 next. This will remain the favored case as long as 0.7164 support holds.

AUD/USD rose further to 0.7660 last week but formed at short term top there and retreated. Initial bias is now on the downside this week for deeper pull back to 55 day EMA (now at 0.7343). On the upside, above 0.7518 minor resistance will turn bias back to the upside for 0.7660. Firm break there will resume larger rise from 0.6991 to retest 0.8006 high.

In the bigger picture, correction from 0.8006 could have completed at 0.6966, after drawing support from 0.6991. That is, up trend from 0.5506 (2020 low) might be ready to resume. Firm break of 0.8006 will target 61.8% projection of 0.5506 to 0.8006 from 0.6966 at 0.8511 next. This will remain the favored case as long as 0.7164 support holds.

In the longer term picture, focus remains on 0.8135 structural resistance. Decisive break there will argue that rise from 0.5506 is developing into a long term up trend that reverses whole down trend from 1.1079 (2011 high). However, rejection by 0.8135 will keep long term outlook neutral at best.

Daily Pivots: (S1) 0.7458; (P) 0.7488; (R1) 0.7510; More…

Intraday bias in AUD/USD remains neutral, but further rally is expected as long as 0.7455 support holds. As noted before, whole corrective decline from 0.8006 should have completed at 0.6966 already. Break of 0.7660 will resume the rise from 0.6966 to retest 0.8006 high. However, firm break of 0.7455 will dampen this bullish view, and turn bias back to the downside for 0.7164 support instead.

In the bigger picture, correction from 0.8006 could have completed at 0.6966, after drawing support from 0.6991. That is, up trend from 0.5506 (2020 low) might be ready to resume. Firm break of 0.8006 will target 61.8% projection of 0.5506 to 0.8006 from 0.6966 at 0.8511 next. This will remain the favored case as long as 0.7164 support holds.

Daily Pivots: (S1) 0.7466; (P) 0.7530; (R1) 0.7573; More…

Intraday bias in AUD/USD remains neutral and outlook is unchanged. Further rise is expected as long as 0.7455 support holds. As noted before, whole corrective decline from 0.8006 should have completed at 0.6966 already. Break of 0.7660 will resume the rise from 0.6966 to retest 0.8006 high. However, firm break of 0.7455 will dampen this bullish view, and turn bias back to the downside for 0.7164 support instead.

In the bigger picture, correction from 0.8006 could have completed at 0.6966, after drawing support from 0.6991. That is, up trend from 0.5506 (2020 low) might be ready to resume. Firm break of 0.8006 will target 61.8% projection of 0.5506 to 0.8006 from 0.6966 at 0.8511 next. This will remain the favored case as long as 0.7164 support holds.

Daily Pivots: (S1) 0.7522; (P) 0.7592; (R1) 0.7647; More…

AUD/USD retreated after hitting 0.7660 and intraday bias is turned neutral first. Some consolidation could be seen but outlook will stay bullish as long a s0.7455 support holds. As noted before, whole corrective decline from 0.8006 should have completed at 0.6966 already. Break of 0.7660 will resume the rise from 0.6966 to retest 0.8006 high.

In the bigger picture, correction from 0.8006 could have completed at 0.6966, after drawing support from 0.6991. That is, up trend from 0.5506 (2020 low) might be ready to resume. Firm break of 0.8006 will target 61.8% projection of 0.5506 to 0.8006 from 0.6966 at 0.8511 next. This will remain the favored case as long as 0.7164 support holds.

Daily Pivots: (S1) 0.7499; (P) 0.7528; (R1) 0.7573; More…

AUD/USD’s rally from 0.6966 resumed by breaking through 0.7539 resistance, and hits as high as 0.7629 so far. Intraday bias is back on the upside. As noted before, the strong break of 0.7555 structural resistance should confirm that whole corrective decline from 0.8006 has completed at 0.6966. Further rise should be seen back to retest 0.8005 high. In any case, near term outlook will now remain bullish as long as 0.7455 support holds.

In the bigger picture, correction from 0.8006 could have completed at 0.6966, after drawing support from 0.6991. That is, up trend from 0.5506 (2020 low) might be ready to resume. Firm break of 0.8006 will target 61.8% projection of 0.5506 to 0.8006 from 0.6966 at 0.8511 next. This will remain the favored case as long as 0.7164 support holds.

Daily Pivots: (S1) 0.7474; (P) 0.7499; (R1) 0.7526; More…

Intraday bias in AUD/USD remains neutral for consolidation from 0.7539. Further rally is expected wit h 0.7372 minor support intact. On the upside, decisive break of 0.7555 should confirm that whole corrective decline from 0.8006 has completed at 0.6966. Further rise should then be seen back to retest 0.8005. However, break of 0.7372 will dampen this bullish view and turn bias back to the downside for 0.7164 support instead.

In the bigger picture, correction from 0.8006 could have completed at 0.6966, after drawing support from 0.6991. That is, up trend from 0.5506 (2020 low) might be ready to resume. Firm break of 0.8006 will target 61.8% projection of 0.5506 to 0.8006 from 0.6966 at 0.8511 next. This will remain the favored case as long as 0.7164 support holds.

AUD/USD formed a temporary top at 0.7539 last week, ahead of 0.7555 resistance, and turned sideway. Initial bias remains neutral this week and more consolidations could be seen. But further rally is expected as long as 0.7372 minor support holds. On the upside, decisive break of 0.7555 should confirm that whole corrective decline from 0.8006 has completed at 0.6966. Further rise should then be seen back to retest 0.8005. However, break of 0.7372 will dampen this bullish view and turn bias back to the downside for 0.7164 support instead.

In the bigger picture, correction from 0.8006 could have completed at 0.6966, after drawing support from 0.6991. That is, up trend from 0.5506 (2020 low) might be ready to resume. Firm break of 0.8006 will target 61.8% projection of 0.5506 to 0.8006 from 0.6966 at 0.8511 next. This will remain the favored case as long as 0.7164 support holds.

In the longer term picture, focus remains on 0.8135 structural resistance. Decisive break there will argue that rise from 0.5506 is developing into a long term up trend that reverses whole down trend from 1.1079 (2011 high). However, rejection by 0.8135 will keep long term outlook neutral at best.

Daily Pivots: (S1) 0.7463; (P) 0.7492; (R1) 0.7513; More…

Intraday bias in AUD/USD remains neutral and outlook is unchanged. Further rally is expected as long as 0.7372 minor support holds. On the upside, decisive break of 0.7555 should confirm that whole corrective decline from 0.8006 has completed at 0.6966. Further rise should then be seen back to retest 0.8005. However, break of 0.7372 will dampen this bullish view and turn bias back to the downside for 0.7164 support instead.

In the bigger picture, correction from 0.8006 could have completed at 0.6966, after drawing support from 0.6991. That is, up trend from 0.5506 (2020 low) might be ready to resume. Firm break of 0.8006 will target 61.8% projection of 0.5506 to 0.8006 from 0.6966 at 0.8511 next. This will remain the favored case as long as 0.7164 support holds.

Daily Pivots: (S1) 0.7497; (P) 0.7517; (R1) 0.7531; More…

AUD/USD is staying in consolidation from 0.7539 and intraday bias remains neutral. Further rally is expected as long as 0.7372 minor support holds. On the upside, decisive break of 0.7555 should confirm that whole corrective decline from 0.8006 has completed at 0.6966. Further rise should then be seen back to retest 0.8005. However, break of 0.7372 will dampen this bullish view and turn bias back to the downside for 0.7164 support instead.

In the bigger picture, correction from 0.8006 could have completed at 0.6966, after drawing support from 0.6991. That is, up trend from 0.5506 (2020 low) might be ready to resume. Firm break of 0.8006 will target 61.8% projection of 0.5506 to 0.8006 from 0.6966 at 0.8511 next. This will remain the favored case as long as 0.7164 support holds.

Daily Pivots: (S1) 0.7470; (P) 0.7495; (R1) 0.7532; More…

Intraday bias in AUD/USD remains neutral for consolidations. But further rally is expected as long as 0.7372 minor support holds. On the upside, decisive break of 0.7555 should confirm that whole corrective decline from 0.8006 has completed at 0.6966. Further rise should then be seen back to retest 0.8005. However, break of 0.7372 will dampen this bullish view and turn bias back to the downside for 0.7164 support instead.

In the bigger picture, correction from 0.8006 could have completed at 0.6966, after drawing support from 0.6991. That is, up trend from 0.5506 (2020 low) might be ready to resume. Firm break of 0.8006 will target 61.8% projection of 0.5506 to 0.8006 from 0.6966 at 0.8511 next. This will remain the favored case as long as 0.7164 support holds.

Daily Pivots: (S1) 0.7459; (P) 0.7500; (R1) 0.7532; More…

A temporary top is formed at 0.7539 in AUD/USD, just ahead of 0.7555 resistance. Intraday bias is turned neutral for some consolidations first. Further rise is expected as long as 0.7372 minor support holds. On the upside, decisive break of 0.7555 should confirm that whole corrective decline from 0.8006 has completed at 0.6966. Further rise should then be seen back to retest 0.8005. However, break of 0.7372 will dampen this bullish view and turn bias back to the downside for 0.7164 support instead.

In the bigger picture, correction from 0.8006 could have completed at 0.6966, after drawing support from 0.6991. That is, up trend from 0.5506 (2020 low) might be ready to resume. Firm break of 0.8006 will target 61.8% projection of 0.5506 to 0.8006 from 0.6966 at 0.8511 next. This will remain the favored case as long as 0.7164 support holds.

Daily Pivots: (S1) 0.7495; (P) 0.7516; (R1) 0.7537; More…

Despite loss of upside momentum as seen in 4 hour MACD, intraday bias in AUD/USD stays on the upside for 0.7555 resistance. Decisive break there should confirm that whole corrective decline from 0.8006 has completed at 0.6966. Further rise should then be seen back to retest 0.8005. On the downside, below 0.7465 minor support will turn intraday bias neutral and bring consolidations first.

In the bigger picture, correction from 0.8006 could have completed at 0.6966, after drawing support from 0.6991. That is, up trend from 0.5506 (2020 low) might be ready to resume. Firm break of 0.8006 will target 61.8% projection of 0.5506 to 0.8006 from 0.6966 at 0.8511 next. This will remain the favored case as long as 0.7164 support holds.

AUD/USD’s break of 0.7440 resistance last week confirmed resumption of rise from 0.6966. Initial bias remains on the upside this week for 0.7555 resistance. Decisive break there should confirm that whole corrective decline from 0.8006 has completed at 0.6966. Further rise should then be seen back to retest 0.8005. On the downside, below 0.7465 minor support will turn intraday bias neutral and bring consolidations first.

In the bigger picture, correction from 0.8006 could have completed at 0.6966, after drawing support from 0.6991. That is, up trend from 0.5506 (2020 low) might be ready to resume. Firm break of 0.8006 will target 61.8% projection of 0.5506 to 0.8006 from 0.6966 at 0.8511 next. This will remain the favored case as long as 0.7164 support holds.

In the longer term picture, focus remains on 0.8135 structural resistance. Decisive break there will argue that rise from 0.5506 is developing into a long term up trend that reverses whole down trend from 1.1079 (2011 high). However, rejection by 0.8135 will keep long term outlook neutral at best.

Daily Pivots: (S1) 0.7477; (P) 0.7503; (R1) 0.7538; More…

AUD/USD’s rally resumed after brief retreat and intraday bias is back on the upside for 0.7555 resistance. Decisive break there should confirm that whole corrective decline from 0.8006 has completed at 0.6966. Further raise should then be seen back to retest 0.8005. On the downside, below 0.7465 minor support will turn intraday bias neutral again.

In the bigger picture, strong rebound from 0.6991 key structural support retains medium term bullishness. That is, whole up trend from 0.5506 is still in progress for another rise through 0.8006 at a later stage. However, sustained break of 0.6991 will argue that the whole up trend from 0.5506 might be finished at 0.8006, after rejection by 0.8135 long term resistance. Deeper decline would then be seen back to 61.8% retracement of 0.5506 to 0.8006 at 0.6461.

Daily Pivots: (S1) 0.7464; (P) 0.7486; (R1) 0.7521; More…

A temporary top is formed at 0.7506 on loss of upside momentum. Intraday bias in AUD/USD is turned neutral first. Further rally is expected as long as 0.7372 support holds. On the upside, above 0.7506 will target 0.7555 resistance. Decisive break there should confirm that whole corrective decline from 0.8006 has completed at 0.6966. On the downside, however, break of 0.7372 will dampen this bullish case, and turn bias back to the downside for 0.7164 support.

In the bigger picture, focus remains on 0.6991 key structural support. Sustained break there will argue that the whole up trend from 0.5506 might be finished at 0.8006, after rejection by 0.8135 long term resistance. Deeper decline would then be seen back to 61.8% retracement of 0.5506 to 0.8006 at 0.6461. Meanwhile, strong rebound from 0.6991 will retain medium term bullishness. That is, whole up trend from 0.5506 is still in progress for another rise through 0.8006 at a later stage.