Daily Pivots: (S1) 0.7422; (P) 0.7440; (R1) 0.7468; More…

Intraday bias in AUD/USD remains mildly on the downside as fall from 0.7555 is in progress. Sustained trading below 55 day EMA (now at 0.7394) will argue that rebound from 0.7105 is complete with three waves up to 0.7555. That would also argue that fall from 0.8006 is ready to resume through 0.7105 low. On the upside, above 0.7470 minor resistance will turn bias back to the upside for 0.7555 resistance again.

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. In that case, main focus will be 0.8135 key resistance (2018 high). Sustained break there will carry larger bullish implications. However, sustained break of 0.6991 will argue that the whole medium term trend has indeed reversed.

Daily Pivots: (S1) 0.7422; (P) 0.7440; (R1) 0.7468; More…

Intraday bias in AUD/USD is mildly on the downside for 55 day EMA (now at 0.7394). Sustained break there will argue that rebound from 0.7105 is complete with three waves up to 0.7555. That would also argue that fall from 0.8006 is ready to resume through 0.7105 low. On the upside, break of 0.7555 will turn bias back to the upside and resume the rebound instead.

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. In that case, main focus will be 0.8135 key resistance (2018 high). Sustained break there will carry larger bullish implications. However, sustained break of 0.6991 will argue that the whole medium term trend has indeed reversed.

Daily Pivots: (S1) 0.7389; (P) 0.7460; (R1) 0.7500; More…

Break of 0.7452 support suggests that short term topping at 0.7555. Intraday bias in AUD/USD is turned back to the downside for 55 day EMA (now at 0.7393). Sustained break there will argue that rebound from 0.7105 is complete with three waves up to 0.7555. That would also argue that fall from 0.8006 is ready to resume through 0.7105 low. On the upside, break of 0.7555 will turn bias back to the upside and resume the rebound instead.

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. In that case, main focus will be 0.8135 key resistance (2018 high). Sustained break there will carry larger bullish implications. However, sustained break of 0.6991 will argue that the whole medium term trend has indeed reversed.

Daily Pivots: (S1) 0.7493; (P) 0.7514; (R1) 0.7543; More…

Intraday bias in AUD/USD is neutral for now as consolidation from 0.7555 is extending. But further rally is still expected as long as 0.7452 support holds. On the upside, break of 0.7555 will resume the rise from 0.7105 to 161.8% projection of 0.7105 to 0.7477 from 0.7169 at 0.7771. On the downside, however, break of 0.7452 minor support will turn bias to the downside for 55 day EMA (now at 0.7394) and possibly below.

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. In that case, main focus will be 0.8135 key resistance (2018 high). Sustained break there will carry larger bullish implications. However, sustained break of 0.6991 will argue that the whole medium term trend has indeed reversed.

Daily Pivots: (S1) 0.7496; (P) 0.7526; (R1) 0.7550; More…

No change in AUD/USD’s outlook. While upside momentum is a bit unconvincing, further rise is expected this week as long as 0.7452 support holds. Next target is 161.8% projection of 0.7105 to 0.7477 from 0.7169 at 0.7771. On the downside, however, break of 0.7452 minor support will turn bias to the downside for 55 day EMA (now at 0.7390) and possibly below.

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. In that case, main focus will be 0.8135 key resistance (2018 high). Sustained break there will carry larger bullish implications. However, sustained break of 0.6991 will argue that the whole medium term trend has indeed reversed.

AUD/USD edged higher last week as rebound from 0.7105 extended. While upside momentum is a bit unconvincing, further rise is expected this week as long as 0.7452 support holds. Next target is 161.8% projection of 0.7105 to 0.7477 from 0.7169 at 0.7771. On the downside, however, break of 0.7452 minor support will turn bias to the downside for 55 day EMA (now at 0.7386) and possibly below.

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. In that case, main focus will be 0.8135 key resistance (2018 high). Sustained break there will carry larger bullish implications. However, sustained break of 0.6991 will argue that the whole medium term trend has indeed reversed.

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). In that case, further rally would be seen to 61.8% retracement of 1.1079 to 0.5506 at 0.8950 and possibly above. Rejection by 0.8135 will keep long term outlook neutral at best.

Daily Pivots: (S1) 0.7498; (P) 0.7527; (R1) 0.7574; More…

AUD/USD’s rally is resuming with breach of 0.7545 temporary top. Intraday bias is back on the upside. Rise from 0.7105 would target 161.8% projection of 0.7105 to 0.7477 from 0.7169 at 0.7771 next. On the downside, however, break of 0.7452 minor support will turn bias to the downside for 55 day EMA (now at 0.7381) and possibly below.

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. In that case, main focus will be 0.8135 key resistance (2018 high). Sustained break there will carry larger bullish implications. However, sustained break of 0.6991 will argue that the whole medium term trend has indeed reversed.

Daily Pivots: (S1) 0.7493; (P) 0.7514; (R1) 0.7541; More…

AUD/USD is staying in consolidation below 0.7545 temporary top and intraday bias remains neutral at this point. In case of another retreat, downside should be contained by 0.7377 support to bring another rally. On the upside, break of 0.7454 will resume the rise from 0.7105 to 161.8% projection of 0.7105 to 0.7477 from 0.7169 at 0.7771.

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. In that case, main focus will be 0.8135 key resistance (2018 high). Sustained break there will carry larger bullish implications. However, sustained break of 0.6991 will argue that the whole medium term trend has indeed reversed.

Daily Pivots: (S1) 0.7483; (P) 0.7504; (R1) 0.7524; More…

Intraday bias in AUD/USD remains neutral as consolidation from 0.7545 temporary top is still extending. In case of another retreat, downside should be contained by 0.7377 support to bring another rally. On the upside, break of 0.7454 will resume the rise from 0.7105 to 161.8% projection of 0.7105 to 0.7477 from 0.7169 at 0.7771.

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. In that case, main focus will be 0.8135 key resistance (2018 high). Sustained break there will carry larger bullish implications. However, sustained break of 0.6991 will argue that the whole medium term trend has indeed reversed.

Daily Pivots: (S1) 0.7468; (P) 0.7487; (R1) 0.7509; More…

AUD/USD is staying in consolidation from 0.7545 temporary top and intraday bias remains neutral. In case of another retreat, downside should be contained by 0.7377 support to bring another rally. On the upside, break of 0.7454 will resume the rise from 0.7105 to 161.8% projection of 0.7105 to 0.7477 from 0.7169 at 0.7771.

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. In that case, main focus will be 0.8135 key resistance (2018 high). Sustained break there will carry larger bullish implications. However, sustained break of 0.6991 will argue that the whole medium term trend has indeed reversed.

Daily Pivots: (S1) 0.7444; (P) 0.7478; (R1) 0.7502; More…

Intraday bias in AUD/USD remains neutral for consolidation below 0.7545 temporary top. Downside of retreat should be contained by 0.7377 support to bring another rally. On the upside, break of 0.7454 will resume the rise from 0.7105 to 161.8% projection of 0.7105 to 0.7477 from 0.7169 at 0.7771.

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. In that case, main focus will be 0.8135 key resistance (2018 high). Sustained break there will carry larger bullish implications. However, sustained break of 0.6991 will argue that the whole medium term trend has indeed reversed.

AUD/USD rose further to 0.7545 last week and met 100% projection of 0.7105 to 0.7477 from 0.7169 at 0.7541. But as a temporary top was formed, initial bias is neutral this week for consolidations first. Downside of retreat should be contained by 0.7377 support to bring another rally. Break of 0.7545 will target 161.8% projection at 0.7771.

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. In that case, main focus will be 0.8135 key resistance (2018 high). Sustained break there will carry larger bullish implications. However, sustained break of 0.6991 will argue that the whole medium term trend has indeed reversed.

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). In that case, further rally would be seen to 61.8% retracement of 1.1079 to 0.5506 at 0.8950 and possibly above. Rejection by 0.8135 will keep long term outlook neutral at best.

Daily Pivots: (S1) 0.7434; (P) 0.7491; (R1) 0.7522; More…

Intraday bias in AUD/USD is turned neutral with current retreat. Some consolidations would be seen first, but downside should be contained by 0.7377 support to bring another rally. On the upside, break of 0.7545 will resume the rally from 0.7105 and target 161.8% projection of 0.7105 to 0.7477 from 0.7169 at 0.7771.

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. In that case, main focus will be 0.8135 key resistance (2018 high). Sustained break there will carry larger bullish implications. However, sustained break of 0.6991 will argue that the whole medium term trend has indeed reversed.

Daily Pivots: (S1) 0.7480; (P) 0.7501; (R1) 0.7538; More…

AUD/USD rises to as high as 0.7545 so far today and met 100% projection of 0.7105 to 0.7477 from 0.7169 at 0.7541. Intraday bias remains on the upside for the moment. Sustained break of 0.7541 will pave the way to 161.8% projection at 0.7771. On the downside, though, break of 0.7479 minor support will turn bias neutral for consolidation first, before staging another rally.

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. In that case, main focus will be 0.8135 key resistance (2018 high). Sustained break there will carry larger bullish implications. However, sustained break of 0.6991 will argue that the whole medium term trend has indeed reversed.

Daily Pivots: (S1) 0.7427; (P) 0.7456; (R1) 0.7505; More….

AUD/USD rises to as high as 0.7503 so far today and intraday bias remains on the upside. Break of 0.7477 resistance indicates resumption of the rebound form 0.7105. Current development also suggest that larger decline from 0.8006 has completed. Next target is 100% projection of 0.7105 to 0.7477 from 0.7169 at 0.7541, and then 161.8% projection at 0.7771. On the downside, break of 0.7377 minor support will turn intraday bias neutral first.

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. In that case, main focus will be 0.8135 key resistance (2018 high). Sustained break there will carry larger bullish implications. However, sustained break of 0.6991 will argue that the whole medium term trend has indeed reversed.

Daily Pivots: (S1) 0.7382; (P) 0.7409; (R1) 0.7440; More….

AUD/USD’s rise resumed after brief consolidation and intraday bias is back on the upside for 0.7477 resistance. Firm break there will argue that larger decline from 0.8006 has completed and turn near term outlook bullish. Next target is 100% projection of 0.7105 to 0.7477 from 0.7169 at 0.7541, and then 161.8% projection at 0.7771. On the downside, though, below 0.7377 minor support will turn intraday bias neutral first.

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. In that case, main focus will be 0.8135 key resistance (2018 high). Sustained break there will carry larger bullish implications. However, sustained break of 0.6991 will argue that the whole medium term trend has indeed reversed.

Daily Pivots: (S1) 0.7403; (P) 0.7421; (R1) 0.7439; More…

Intraday bias in AUD/USD is turned neutral with current retreat, and some consolidations could be seen first. Further rise is in favor with 0.7322 minor support intact. Above 0.7439 will target 0.7477 resistance first. Firm break there will argue that larger decline from 0.8006 has completed and turn near term outlook bullish. Next target is 100% projection of 0.7105 to 0.7477 from 0.7169 at 0.7541, and then 161.8% projection at 0.7771. On the downside, though, below 0.7322 minor support will dampen the bullish case and turn bias back to the downside for 0.7169 support instead.

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. In that case, main focus will be 0.8135 key resistance (2018 high). Sustained break there will carry larger bullish implications. However, sustained break of 0.6991 will argue that the whole medium term trend has indeed reversed.

AUD/USD’s rebound from 0.7169 continued last week and hit as high as 0.7439. Initial bias stays on the upside this week for 0.7477 resistance first. Firm break there will argue that larger decline from 0.8006 has completed and turn near term outlook bullish. Next target is 100% projection of 0.7105 to 0.7477 from 0.7169 at 0.7541, and then 161.8% projection at 0.7771. On the downside, though, below 0.7322 minor support will dampen the bullish case and turn intraday bias neutral again first.

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. In that case, main focus will be 0.8135 key resistance (2018 high). Sustained break there will carry larger bullish implications. However, sustained break of 0.6991 will argue that the whole medium term trend has indeed reversed.

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). In that case, further rally would be seen to 61.8% retracement of 1.1079 to 0.5506 at 0.8950 and possibly above. Rejection by 0.8135 will keep long term outlook neutral at best.

Daily Pivots: (S1) 0.7383; (P) 0.7405; (R1) 0.7438; More…

Intraday bias in AUD/USD remains on the upside for 0.7477 resistance. Sustained break there will argue that larger decline from 0.8006 has completed and turn near term outlook bullish. Next targets will be 100% projection of 0.7105 to 0.7477 from 0.7169 at 0.7541, and then 161.8% projection at 0.7771. On the downside, though, below 0.7322 minor support will dampen the bullish case and turn intraday bias neutral again first.

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. In that case, main focus will be 0.8135 key resistance (2018 high). Sustained break there will carry larger bullish implications. However, sustained break of 0.6991 will argue that the whole medium term trend has indeed reversed.

Daily Pivots: (S1) 0.7342; (P) 0.7362; (R1) 0.7400; More…

AUD/USD’s rise resumed after brief retreat and intraday bias is back on the upside. Current rally from 0.7169 should target 0.7477 resistance first. Sustained break there will argue that larger decline from 0.8006 has completed and turn near term outlook bullish. On the downside, below 0.7302 minor support will turn bias back to the downside for 0.7169 instead.

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. In that case, main focus will be 0.8135 key resistance (2018 high). Sustained break there will carry larger bullish implications. However, sustained break of 0.6991 will argue that the whole medium term trend has indeed reversed.