Daily Pivots: (S1) 0.7116; (P) 0.7136; (R1) 0.7173; More…

Intraday bias in AUD/USD remains neutral at this point. On the downside, break of 0.7089 minor support will bring retest of 0.6991 key support first. Sustained break there will carry larger bearish implication, and resume larger down trend from 0.8006. On the upside, above 0.7223 and sustained trading above 55 day EMA (now at 0.7236) will be the first sign of major bottoming and bring stronger rise to 0.7555 resistance.

In the bigger picture, strong rebound from 0.6991 key structural support will retain medium term bullishness. That is, whole up trend from 0.5506 is still in progress. Firm break of 0.7555 resistance will target 0.8006 high and above. 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) 0.7084; (P) 0.7109; (R1) 0.7134; More…

Intraday bias in AUD/USD remains neutral for the moment. Sustained break there will carry larger bearish implication, and resume larger down trend from 0.8006. On the upside, above 0.7223 and sustained trading above 55 day EMA (now at 0.7239) will be the first sign of major bottoming and bring stronger rise to 0.7555 resistance.

In the bigger picture, strong rebound from 0.6991 key structural support will retain medium term bullishness. That is, whole up trend from 0.5506 is still in progress. Firm break of 0.7555 resistance will target 0.8006 high and above. 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) 0.7104; (P) 0.7145; (R1) 0.7166; More…

Intraday bias in AUD/USD remains neutral first. On the downside, break of 0.7089 will bring another test on 0.6991 key support. Sustained break there will carry larger bearish implication, and resume larger down trend from 0.8006. On the upside, above 0.7223 will resume the rebound from 0.6992 to 55 day EMA (now at 0.7243).

In the bigger picture, strong rebound from 0.6991 key structural support will retain medium term bullishness. That is, whole up trend from 0.5506 is still in progress. Firm break of 0.7555 resistance will target 0.8006 high and above. 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.

AUD/USD edged higher to 0.7223 last week but quickly retreated. Initial bias is neutral this week first. On the downside, break of 0.7089 will bring another test on 0.6991 key support. Sustained break there will carry larger bearish implication. On the upside, above 0.7223 will resume the rebound from 0.6992 to 55 day EMA (now at 0.7248).

In the bigger picture, strong rebound from 0.6991 key structural support will retain medium term bullishness. That is, whole up trend from 0.5506 is still in progress. Firm break of 0.7555 resistance will target 0.8006 high and above. 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.

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) 0.7145; (P) 0.7185; (R1) 0.7223; More…

Further is in favor in AUD/USD with 0.7089 minor support intact, to 55 day EMA (now at 0.7250). Sustained trading above there will raise the chance that whole correction from 0.8006 has completed, after defending 0.6991 key structural support. Further rally would then be seen back to 0.7555 resistance. On the downside, below 0.7089 minor support will turn bias back to the downside for 0.6991 key support again.

In the bigger picture, strong rebound from 0.6991 key structural support will retain medium term bullishness. That is, whole up trend from 0.5506 is still in progress. Firm break of 0.7555 resistance will target 0.8006 high and above. 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) 0.7119; (P) 0.7148; (R1) 0.7203; More…

AUD/USD’s rebound from 0.6992 resumes by breaking through 0.7185. Intraday bias is back on the upside for 55 day EMA (now at 0.7255). Sustained trading above there will raise the chance that whole correction from 0.8006 has completed, after defending 0.6991 key structural support. Further rally would then be seen back to 0.7555 resistance. On the downside, below 0.7089 minor support will turn bias back to the downside for 0.6991 key support again.

In the bigger picture, strong rebound from 0.6991 key structural support will retain medium term bullishness. That is, whole up trend from 0.5506 is still in progress. Firm break of 0.7555 resistance will target 0.8006 high and above. 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) 0.7119; (P) 0.7148; (R1) 0.7203; More…

Intraday bias in AUD/USD remains neutral at this point. On the upside, break of 0.7185 will resume the rebound from 0.6992, and turn bias back to the upside for 55 day EMA (now at 0.7255). Sustained trading above there will raise the chance that correction form 0.8006 has completed. On the downside, below 0.7089 minor support will turn bias back to the downside for 0.6991 key support again.

In the bigger picture, sustained break of 0.6991 structural support 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). For now, medium term outlook will stay bearish as long as 0.7555 resistance holds, in case of rebound.

Daily Pivots: (S1) 0.7085; (P) 0.7111; (R1) 0.7131; More…

Intraday bias in AUD/USD is mildly on the downside at this point. Rebound from 0.6992 could have completed at 0.7185. Deeper fall would be seen back to retest 0.6992 low. Sustained break of 0.6991 key medium term structural support will carry larger bearish implication and resume the fall from 0.8006. On the upside, though, above 0.7185 will resume the rebound from 0.6992 to 4 hour 555 EMA (now at 0.7259).

In the bigger picture, sustained break of 0.6991 structural support 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). For now, medium term outlook will stay bearish as long as 0.7555 resistance holds, in case of rebound.

Daily Pivots: (S1) 0.7105; (P) 0.7141; (R1) 0.7170; More…

AUD/USD’s break of 0.7116 minor support suggests that rebound from 0.6992 has completed at 0.7185. Intraday bias is back on the downside for retesting 0.6992 low. Sustained break of 0.6991 key medium term structural support will carry larger bearish implication and resume the fall from 0.8006. On the upside, though, above 0.7185 will resume the rebound from 0.6992 to EMA (now at 0.7259).

In the bigger picture, sustained break of 0.6991 structural support 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). For now, medium term outlook will stay bearish as long as 0.7555 resistance holds, in case of rebound.

Daily Pivots: (S1) 0.7142; (P) 0.7162; (R1) 0.7193; More…

Intraday bias in AUD/USD remains mildly on the upside for the moment. A short term bottom should be formed at 0.6992, just ahead of 0.6991 key structural support. Further rise would be seen to EMA (now at 0.7266). On the downside, however, break of 0.7116 minor support will turn bias back to the downside for 0.6991. Sustained break there will carry larger bearish implication.

In the bigger picture, sustained break of 0.6991 cluster support will argue that the who 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). For now, medium term outlook will stay bearish as long as 0.7555 resistance holds, in case of rebound.

AUD/USD’s strong rebound last week suggests that 0.6991 key structural support was defended for now. Initial bias is mildly on the upside this week for 55 day EMA (now at 0.7269). On the downside, however, break of 0.7116 minor support will turn bias back to the downside for 0.6991. Sustained break there will carry larger bearish implication.

In the bigger picture, sustained break of 0.6991 cluster support will argue that the who 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). For now, medium term outlook will stay bearish as long as 0.7555 resistance holds, in case of rebound.

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) 0.7126; (P) 0.7157; (R1) 0.7177; More…

Intraday bias in AUD/USD remains neutral with focus on 0.7172 resistance. Sustained break there should confirm short term bottoming at 0.6992. More importantly, whole corrective fall from 0.8006 might be finished too after defending 0.6991 key structural support. Stronger rise should then be seen to 55 day EMA (now at 0.7273). Firm break there will target 0.7555 resistance to confirm this bullish case. On the downside, however, firm break of 0.6991 will carry larger bearish implication and extend the down trend from 0.8006.

In the bigger picture, focus stays on 0.6991 key support level. Strong rebound from there will argue that up trend from 0.5506 is still intact for another rise through 0.8006 at a later stage. However, sustained break of 0.6991 will argue that the up trend is over, 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) 0.7129; (P) 0.7157; (R1) 0.7198; More…

Immediate focus is now on 0.7172 resistance in AUD/USD. Sustained break there should confirm short term bottoming at 0.6992. More importantly, whole corrective fall from 0.8006 might be finished too after defending 0.6991 key structural support. Stronger rise should then be seen to 55 day EMA (now at 0.7275). Firm break there will target 0.7555 resistance to confirm this bullish case. On the downside, however, firm break of 0.6991 will carry larger bearish implication and extend the down trend from 0.8006.

In the bigger picture, focus stays on 0.6991 key support level. Strong rebound from there will argue that up trend from 0.5506 is still intact for another rise through 0.8006 at a later stage. However, sustained break of 0.6991 will argue that the up trend is over, 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) 0.7064; (P) 0.7094; (R1) 0.7147; More…

Intraday bias in AUD/USD stays neutral at this point. On the upside, firm break of 0.7172 will indicate short term bottoming. Intraday bias will be turned back to the upside for 55 day EMA (now at 0.7276). On the downside, firm break of 0.6991 key structural support will carry larger bearish implication. Next target is 100% projection of 0.7890 to 0.7105 from 0.7555 at 0.6770.

In the bigger picture, sustained break of 0.6991 cluster support will argue that the who 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). For now, medium term outlook will stay bearish as long as 0.7555 resistance holds, in case of rebound.

Daily Pivots: (S1) 0.6962; (P) 0.7031; (R1) 0.7068; More…

AUD/USD’s rebound from 0.6992 extends higher today but stays below 0.7172 resistance. Intraday bias is turned neutral first. On the upside, firm break of 0.7172 will indicate short term bottoming. Intraday bias will be turned back to the upside for 55 day EMA (now at 0.7281). On the downside, firm break of 0.6991 key structural support will carry larger bearish implication. Next target is 100% projection of 0.7890 to 0.7105 from 0.7555 at 0.6770.

In the bigger picture, sustained break of 0.6991 cluster support will argue that the who 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). For now, medium term outlook will stay bearish as long as 0.7555 resistance holds, in case of rebound.

Daily Pivots: (S1) 0.6962; (P) 0.7031; (R1) 0.7068; More…

AUD/USD recovers mildly today but outlook remains unchanged. Intraday bias stays on the downside with focus on 0.6991 key structural support. Sustained break there will carry larger bearish implication. Next target is 100% projection of 0.7890 to 0.7105 from 0.7555 at 0.6770. On the upside, break of 0.7172 resistance will indicate short term bottoming and bring stronger rebound.

In the bigger picture, sustained break of 0.6991 cluster support will argue that the who 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). For now, medium term outlook will stay bearish as long as 0.7555 resistance holds, in case of rebound.

Daily Pivots: (S1) 0.6962; (P) 0.7031; (R1) 0.7068; More…

Intraday bias in AUD/USD remains on the downside with focus on 0.6991 key structural support. Sustained break there will carry larger bearish implication. Next target is 100% projection of 0.7890 to 0.7105 from 0.7555 at 0.6770. On the upside, break of 0.7172 resistance will indicate short term bottoming and bring stronger rebound.

In the bigger picture, sustained break of 0.6991 cluster support will argue that the who 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). For now, medium term outlook will stay bearish as long as 0.7555 resistance holds, in case of rebound.

AUD/USD’s down trend continued last week despite some interim consolidation. Initial bias is now on the downside this week with focus on 0.6991 key structural support. Sustained break there will carry larger bearish implication. next target is 100% projection of 0.7890 to 0.7105 from 0.7555 at 0.6770. On the upside, break of 0.7172 resistance will indicate short term bottoming and bring stronger rebound.

In the bigger picture, sustained break of 0.6991 cluster support will argue that the who 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). For now, medium term outlook will stay bearish as long as 0.7555 resistance holds, in case of rebound.

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) 0.7078; (P) 0.7099; (R1) 0.7113; More…

Intraday bias in AUD/USD remains neutral for the moment. On the upside, above 0.7172 will resume the rebound from 0.7061 to 55 day EMA (now at 0.7308). On the downside, break of 0.7061 will extend the larger fall form 0.8006. But we’d look for support from 0.6991/7051 key support zone to bring rebound. However, sustained break there will carry larger bearish implications.

In the bigger picture, with 0.6991 cluster support (38.2% retracement of 0.5506 to 0.8006 at 0.7051) intact, we’re seeing price action from 0.8006 as a correction only. That is, up trend from 0.5506 low would resume after the correction completes. However, sustained break of 0.6991 will argue that the whole medium term trend has probably reversed. Deeper fall would be seen to 61.8% retracement at 0.6461.

Daily Pivots: (S1) 0.7076; (P) 0.7125; (R1) 0.7154; More…

Intraday bias in AUD/USD is turned neutral again as recovery from 0.7061 quickly lost momentum. On the upside, above 0.7172 will resume the rebound to 55 day EMA (now at 0.7308). On the downside, break of 0.7061 will extend the larger fall form 0.8006. But we’d look for support from 0.6991/7051 key support zone to bring rebound. However, sustained break there will carry larger bearish implications.

In the bigger picture, with 0.6991 cluster support (38.2% retracement of 0.5506 to 0.8006 at 0.7051) intact, we’re seeing price action from 0.8006 as a correction only. That is, up trend from 0.5506 low would resume after the correction completes. However, sustained break of 0.6991 will argue that the whole medium term trend has probably reversed. Deeper fall would be seen to 61.8% retracement at 0.6461.