AUD/USD Daily Report

Daily Pivots: (S1) 0.7435; (P) 0.7465; (R1) 0.7519; More…

Intraday bias in AUD/USD remains neutral at this point. We’re continue to expect strong support from 100% projection of 0.8006 to 0.7530 from 0.7890 at 0.7414 to complete the correction from 0.8006. On the upside, break of of 0.7598 resistance will turn bias back to the upside for 0.7890 resistance first. However, sustained break of 0.7414 will argue it’s at least in larger scale correction, and target 161.8% projection of 0.8006 to 0.7530 from 0.7890 at 0.7120 next.

In the bigger picture, rise from 0.5506 medium term bottom could either be the start of a long term up trend, or a corrective rise. Reactions to 0.8135 key resistance will reveal which case it is. Rejection by 0.8135 key resistance, followed by firm break of 0.7413 resistance turned support, will favor the latter case. Deeper decline would be seen to 38.2% retracement of 0.5506 to 0.8006 at 0.7051 first.

AUD/USD Weekly Outlook

AUD/USD’s corrective fall from 0.8006 resumed last week and reached 0.7408. But as a temporary low was formed, initial bias is neutral this week first. At this point, we’d continue to expect strong support from 100% projection of 0.8006 to 0.7530 from 0.7890 at 0.7414 to complete the correction. Break of 0.7589 will turn bias back to the upside for 0.7890 resistance first. However, sustained break of 0.7414 will argue it’s at least in larger scale correction, and target 161.8% projection of 0.8006 to 0.7530 from 0.7890 at 0.7120 next.

In the bigger picture, rise from 0.5506 medium term bottom could either be the start of a long term up trend, or a corrective rise. Reactions to 0.8135 key resistance will reveal which case it is. Rejection by 0.8135 key resistance, followed by firm break of 0.7413 resistance turned support, will favor the latter case. Deeper decline would be seen to 38.2% retracement of 0.5506 to 0.8006 at 0.7051 first.

In the longer term picture, 0.5506 is a long term bottom, on bullish convergence condition in monthly MACD. Focus is now back on 0.8135 structural resistance. Decisive break there will raise the chance that rise from 0.5506 is an impulsive up trend. Next target should be 61.8% retracement at 0.8950 of 1.1079 to 0.5506 and above. Though, rejection by 0.8135 will keep the case of medium to long term sideway consolidation open.

AUD/USD Daily Report

Daily Pivots: (S1) 0.7402; (P) 0.7446; (R1) 0.7476; More…

Focus is now on 0.7143/4 key support in AUD/USD. We’d still expect this to hold to complete the correction from 0.8006. On the upside, break of 0.7598 resistance will indicate short term bottoming. Intraday bias will be turned back to the upside for retesting 0.7890/8006 resistance zone. On the downside, however, sustained break of 0.7414 will argue it’s at least in larger scale correction, and target 161.8% projection of 0.8006 to 0.7530 from 0.7890 at 0.7120 next.

In the bigger picture, rise from 0.5506 medium term bottom could either be the start of a long term up trend, or a corrective rise. Reactions to 0.8135 key resistance will reveal which case it is. Rejection by 0.8135 key resistance, followed by firm break of 0.7413 resistance turned support, will favors the latter case. Deeper decline would be seen to 38.2% retracement of 0.5506 to 0.8006 at 0.7051 first.

AUD/USD Daily Report

Daily Pivots: (S1) 0.7452; (P) 0.7493; (R1) 0.7523; More…

Intraday bias in AUD/USD is back on the downside with break of 0.7443 support. Fall from 0.7890 is seen as the third leg of the corrective pattern from 0.8006. Deeper fall would be seen to 100% projection of 0.8006 to 0.7530 from 0.7890 at 0.7414. But we’d expect strong support from there to bring rebound. Break of 0.7589 resistance will indicate short term bottoming. However, sustained break of 0.7414 will argue it’s at least in larger scale correction, and target 161.8% projection at 0.7120 next.

In the bigger picture, rise from 0.5506 medium term bottom could either be the start of a long term up trend, or a corrective rise. Reactions to 0.8135 key resistance will reveal which case it is. Rejection by 0.8135 key resistance, followed by firm break of 0.7413 resistance turned support, will favors the latter case. Deeper decline would be seen to 38.2% retracement of 0.5506 to 0.8006 at 0.7051 first.

AUD/USD Daily Report

Daily Pivots: (S1) 0.7450; (P) 0.7524; (R1) 0.7568; More…

Intraday bias in AUD/USD remains neutral for the moment. On the upside, break of 0.7615 will argue that corrective pattern from 0.8006 has completed already. Further rise should then be seen back to 0.7890/8006 resistance zone. On the downside, break of 0.7443 will resume the whole corrective pattern from 0.8006. But we’d expect strong support from 100% projection of 0.8006 to 0.7530 from 0.7890 at 0.7414 to bring rebound.

In the bigger picture, rise from 0.5506 medium term bottom could either be the start of a long term up trend, or a corrective rise. Reactions to 0.8135 key resistance will reveal which case it is. Rejection by 0.8135 key resistance, followed by firm break of 0.7413 resistance turned support, will favors the latter case. Deeper decline would be seen to 38.2% retracement of 0.5506 to 0.8006 at 0.7051 first.

AUD/USD Daily Report

Daily Pivots: (S1) 0.7513; (P) 0.7525; (R1) 0.7541; More…

AUD/USD’s rebound from 0.7443 continues today but stays below 0.7615 resistance. Intraday bias remains neutral first. On the upside, break of 0.7615 will argue that corrective pattern from 0.8006 has completed already. Further rise should then be seen back to 0.7890.8006 resistance zone. On the downside, break of 0.7443 will resume the whole corrective pattern from 0.8006. But we’d expect strong support from 100% projection of 0.8006 to 0.7530 from 0.7890 at 0.7414 to bring rebound.

In the bigger picture, rise from 0.5506 medium term bottom could either be the start of a long term up trend, or a corrective rise. Reactions to 0.8135 key resistance will reveal which case it is. Rejection by 0.8135 key resistance, followed by firm break of 0.7413 resistance turned support, will favors the latter case. Deeper decline would be seen to 38.2% retracement of 0.5506 to 0.8006 at 0.7051 first.

AUD/USD Daily Report

Daily Pivots: (S1) 0.7470; (P) 0.7501; (R1) 0.7558; More…

Intraday bias in AUD/USD remains neutral for the moment. On the downside, break of 0.7443 will resume the whole corrective pattern from 0.8006. But we’d expect strong support from 100% projection of 0.8006 to 0.7530 from 0.7890 at 0.7414 to bring rebound. On the upside, break of 0.7615 resistance will indicate short term bottoming, on bearish divergence condition in 4 hour MACD. Intraday bias will be turned back to the upside for 0.7890/8006 resistance zone.

In the bigger picture, rise from 0.5506 medium term bottom could either be the start of a long term up trend, or a corrective rise. Reactions to 0.8135 key resistance will reveal which case it is. Rejection by 0.8135 key resistance, followed by firm break of 0.7413 resistance turned support, will favors the latter case. Deeper decline would be seen to 38.2% retracement of 0.5506 to 0.8006 at 0.7051 first.

AUD/USD Weekly Outlook

AUD/USD edged lower to 0.7443 last week but quickly recovered again. Initial bias is turned neutral this week first. Another fall could still be seen, and break of 0.7443 will resume the whole corrective pattern from 0.8006. But we’d expect strong support from 100% projection of 0.8006 to 0.7530 from 0.7890 at 0.7414 to bring rebound. On the upside, break of 0.7615 resistance will indicate short term bottoming, on bearish divergence condition in 4 hour MACD. Intraday bias will be turned back to the upside for 0.7890/8006 resistance zone.

In the bigger picture, rise from 0.5506 medium term bottom could either be the start of a long term up trend, or a corrective rise. Reactions to 0.8135 key resistance will reveal which case it is. Rejection by 0.8135 key resistance, followed by firm break of 0.7413 resistance turned support, will favors the latter case. Deeper decline would be seen to 38.2% retracement of 0.5506 to 0.8006 at 0.7051 first.

In the longer term picture, 0.5506 is a long term bottom, on bullish convergence condition in monthly MACD. Focus is now back on 0.8135 structural resistance. Decisive break there will raise the chance that rise from 0.5506 is an impulsive up trend. Next target should be 61.8% retracement at 0.8950 of 1.1079 to 0.5506 and above. Though, rejection by 0.8135 will keep the case of medium to long term sideway consolidation open.

AUD/USD Daily Report

Daily Pivots: (S1) 0.7452; (P) 0.7480; (R1) 0.7499; More…

Intraday bias in AUD/USD is turned to the downside with break of 0.7476. Current fall from 0.7890 is seen as the third leg of corrective pattern from 0.8006. Deeper fall should be seen to 100% projection of 0.8006 to 0.7530 from 0.7890 at 0.7414. We’d expect strong support from there to bring rebound. on the upside, above 0.7526 minor resistance will turn intraday bias neutral first. However, sustained break of 0.7414 will argue it’s at least in larger scale correction, and target 161.8% projection at 0.7120 next.

In the bigger picture, rise from 0.5506 medium term bottom could either be the start of a long term up trend, or a corrective rise. Reactions to 0.8135 key resistance will reveal which case it is. Rejection by 0.8135 key resistance, followed by firm break of 0.7413 resistance turned support, will favors the latter case. Deeper decline would be seen to 38.2% retracement of 0.5506 to 0.8006 at 0.7051 first.

AUD/USD Daily Report

Daily Pivots: (S1) 0.7486; (P) 0.7506; (R1) 0.7521; More…

Intraday bias in AUD/USD remains neutral first with focus on 0.7476 support. Decisive break there will resume the corrective pattern from 0.8006 towards 100% projection of 0.8006 to 0.7530 from 0.7890 at 0.7414. We’d expect strong support from there to bring rebound. On the upside, break of 0.7644 support turned resistance will turn bias back to the upside for 0.7890 resistance. However, sustained break of 0.7414 will argue it’s at least in larger scale correction, and target 161.8% projection at 0.7120 next.

In the bigger picture, rise from 0.5506 medium term bottom could either be the start of a long term up trend, or a corrective rise. Reactions to 0.8135 key resistance will reveal which case it is. Rejection by 0.8135 key resistance, followed by firm break of 0.7413 resistance turned support, will favors the latter case. Deeper decline would be seen to 38.2% retracement of 0.5506 to 0.8006 at 0.7051 first.

AUD/USD Daily Report

Daily Pivots: (S1) 0.7489; (P) 0.7530; (R1) 0.7552; More…

AUD/USD is staying in range of 0.7476/7615 and intraday bias remains neutral first. On the downside, break of 0.7476 will resume the corrective pattern from 0.8006 towards 100% projection of 0.8006 to 0.7530 from 0.7890 at 0.7414. We’d expect strong support from there to bring rebound. On the upside, break of 0.7644 support turned resistance will turn bias back to the upside for 0.7890 resistance. However, sustained break of 0.7414 will argue it’s at least in larger scale correction, and target 161.8% projection at 0.7120 next.

In the bigger picture, rise from 0.5506 medium term bottom could either be the start of a long term up trend, or a corrective rise. Reactions to 0.8135 key resistance will reveal which case it is. Rejection by 0.8135 key resistance, followed by firm break of 0.7413 resistance turned support, will favors the latter case. Deeper decline would be seen to 38.2% retracement of 0.5506 to 0.8006 at 0.7051 first.

AUD/USD Daily Report

Daily Pivots: (S1) 0.7546; (P) 0.7574; (R1) 0.7593; More…

Intraday bias in AUD/USD remains neutral and outlook is unchanged. On the downside, break of 0.7476 will resume the corrective pattern from 0.8006 towards 100% projection of 0.8006 to 0.7530 from 0.7890 at 0.7414. We’d expect strong support from there to bring rebound. On the upside, break of 0.7644 support turned resistance will turn bias back to the upside for 0.7890 resistance. However, sustained break of 0.7414 will argue it’s at least in larger scale correction, and target 161.8% projection at 0.7120 next.

In the bigger picture, rise from 0.5506 medium term bottom could either be the start of a long term up trend, or a corrective rise. Reactions to 0.8135 key resistance will reveal which case it is. Rejection by 0.8135 key resistance, followed by firm break of 0.7413 resistance turned support, will favors the latter case. Deeper decline would be seen to 38.2% retracement of 0.5506 to 0.8006 at 0.7051 first.

AUD/USD Daily Report

Daily Pivots: (S1) 0.7576; (P) 0.7597; (R1) 0.7613; More…

Intraday bias in AUD/USD remains neutral at this point. On the downside, break of 0.7476 will resume the corrective pattern from 0.8006 towards 100% projection of 0.8006 to 0.7530 from 0.7890 at 0.7414. We’d expect strong support from there to bring rebound. On the upside, break of 0.7644 support turned resistance will turn bias back to the upside for 0.7890 resistance. However, sustained break of 0.7414 will argue it’s at least in larger scale correction, and target 161.8% projection at 0.7120 next.

In the bigger picture, rise from 0.5506 medium term bottom could either be the start of a long term up trend, or a corrective rise. Reactions to 0.8135 key resistance will reveal which case it is. Rejection by 0.8135 key resistance, followed by firm break of 0.7413 resistance turned support, will favors the latter case. Deeper decline would be seen to 38.2% retracement of 0.5506 to 0.8006 at 0.7051 first.

AUD/USD Weekly Outlook

AUD/USD recovered after edging lower to 0.7476 last week, but upside is limited below 0.7644 support turned resistance. Initial bias remains neutral this week first. On the downside, break of 0.7476 will resume the corrective pattern from 0.8006 towards 100% projection of 0.8006 to 0.7530 from 0.7890 at 0.7414. We’d expect strong support from there to bring rebound. On the upside, break of 0.7644 support turned resistance will turn bias back to the upside for 0.7890 resistance. However, sustained break of 0.7414 will argue it’s at least in larger scale correction, and target 161.8% projection at 0.7120 next.

In the bigger picture, rise from 0.5506 medium term bottom could either be the start of a long term up trend, or a corrective rise. Reactions to 0.8135 key resistance will reveal which case it is. Rejection by 0.8135 key resistance, followed by firm break of 0.7413 resistance turned support, will favors the latter case. Deeper decline would be seen to 38.2% retracement of 0.5506 to 0.8006 at 0.7051 first.

In the longer term picture, 0.5506 is a long term bottom, on bullish convergence condition in monthly MACD. Focus is now back on 0.8135 structural resistance. Decisive break there will raise the chance that rise from 0.5506 is an impulsive up trend. Next target should be 61.8% retracement at 0.8950 of 1.1079 to 0.5506 and above. Though, rejection by 0.8135 will keep the case of medium to long term sideway consolidation open.

AUD/USD Daily Report

Daily Pivots: (S1) 0.7568; (P) 0.7580; (R1) 0.7594; More…

Intraday bias in AUD/USD remains neutral as consolidation from 0.7477 is still extending. On the downside, break of 0.7477 will extend the correction from 0.8006 to 100% projection of 0.8006 to 0.7530 from 0.7890 at 0.7414. We’d expect strong support from there to bring rebound. On the upside, break of 0.7644 support turned resistance will turn bias back to the upside for 0.7890 resistance. However, sustained break of 0.7414 will argue it’s at least in larger scale correction, and target 161.8% projection at 0.7120 next.

In the bigger picture, rise from 0.5506 medium term bottom could either be the start of a long term up trend, or a corrective rise. Reactions to 0.8135 key resistance will reveal which case it is. Rejection by 0.8135 key resistance, followed by firm break of 0.7413 resistance turned support, will favors the latter case. Deeper decline would be seen to 38.2% retracement of 0.5506 to 0.8006 at 0.7051 first.

AUD/USD Daily Report

Daily Pivots: (S1) 0.7544; (P) 0.7571; (R1) 0.7605; More…

Intraday bias in AUD/USD remains neutral at this point and consolidation pattern from 0.7477 could extend. On the downside, break of 0.7477 will extend the correction from 0.8006 to 100% projection of 0.8006 to 0.7530 from 0.7890 at 0.7414. We’d expect strong support from there to bring rebound. On the upside, break of 0.7644 support turned resistance will turn bias back to the upside for 0.7890 resistance. However, sustained break of 0.7414 will argue it’s at least in larger scale correction, and target 161.8% projection at 0.7120 next.

In the bigger picture, rise from 0.5506 medium term bottom could either be the start of a long term up trend, or a corrective rise. Reactions to 0.8135 key resistance will reveal which case it is. Rejection by 0.8135 key resistance, followed by firm break of 0.7413 resistance turned support, will favors the latter case. Deeper decline would be seen to 38.2% retracement of 0.5506 to 0.8006 at 0.7051 first.

AUD/USD Daily Report

Daily Pivots: (S1) 0.7512; (P) 0.7538; (R1) 0.7582; More…

Intraday bias in AUD/USD remains neutral for consolidation above 0.7477. On the downside, break of 0.7477 will extend the correction from 0.8006 to 100% projection of 0.8006 to 0.7530 from 0.7890 at 0.7414. We’d expect strong support from there to bring rebound. On the upside, break of 0.7644 support turned resistance will turn bias back to the upside for 0.7890 resistance. However, sustained break of 0.7414 will argue it’s at least in larger scale correction, and target 161.8% projection at 0.7120 next.

In the bigger picture, rise from 0.5506 medium term bottom could either be the start of a long term up trend, or a corrective rise. Reactions to 0.8135 key resistance will reveal which case it is. Rejection by 0.8135 key resistance, followed by firm break of 0.7413 resistance turned support, will favors the latter case. Deeper decline would be seen to 38.2% retracement of 0.5506 to 0.8006 at 0.7051 first.

AUD/USD Daily Report

Daily Pivots: (S1) 0.7499; (P) 0.7522; (R1) 0.7568; More…

A temporary low is formed at 0.7477 in AUD/USD with 4 hour MACD crossed above signal line, and intraday bias is turned neutral first. On the downside, break of 0.7477 will extend the correction from 0.8006 to 100% projection of 0.8006 to 0.7530 from 0.7890 at 0.7414. We’d expect strong support from there to bring rebound. On the upside, break of 0.7644 support turned resistance will turn bias back to the upside for 0.7890 resistance. However, sustained break of 0.7414 will argue it’s at least in larger scale correction, and target 161.8% projection at 0.7120 next.

In the bigger picture, rise from 0.5506 medium term bottom could either be the start of a long term up trend, or a corrective rise. Reactions to 0.8135 key resistance will reveal which case it is. Rejection by 0.8135 key resistance, followed by firm break of 0.7413 resistance turned support, will favors the latter case. Deeper decline would be seen to 38.2% retracement of 0.5506 to 0.8006 at 0.7051 first.

AUD/USD Daily Report

Daily Pivots: (S1) 0.7452; (P) 0.7507; (R1) 0.7534; More…

Intraday bias in AUD/USD remains on the downside for the moment. Fall from 0.7890 is seen as the third leg of the corrective pattern form 0.8006. Deeper decline would be seen to 100% projection of 0.8006 to 0.7530 from 0.7890 at 0.7414. We’d expect strong support from there to bring rebound. On the upside, above 0.7560 minor resistance will turn intraday bias neutral first. However, sustained break of 0.7414 will argue it’s at least in larger scale correction, and target 161.8% projection at 0.7120 next.

In the bigger picture, rise from 0.5506 medium term bottom could either be the start of a long term up trend, or a corrective rise. Reactions to 0.8135 key resistance will reveal which case it is. Rejection by 0.8135 key resistance, followed by firm break of 0.7413 resistance turned support, will favors the latter case. Deeper decline would be seen to 38.2% retracement of 0.5506 to 0.8006 at 0.7051 first.

AUD/USD Weekly Outlook

AUD/USD’s corrective pattern from 0.8006 resumed last week by breaking through 0.7530 support. Initial bias stays on the downside this week. Deeper decline would be seen to 100% projection of 0.8006 to 0.7530 from 0.7890 at 0.7414. We’d expect strong support from there to bring rebound. On the upside, above 0.7560 minor resistance will turn intraday bias neutral first. However, sustained break of 0.7414 will argue it’s at least in larger scale correction, and target 161.8% projection at 0.7120 next.

In the bigger picture, rise from 0.5506 medium term bottom could either be the start of a long term up trend, or a corrective rise. Reactions to 0.8135 key resistance will reveal which case it is. Rejection by 0.8135 key resistance, followed by firm break of 0.7413 resistance turned support, will favors the latter case. Deeper decline would be seen to 38.2% retracement of 0.5506 to 0.8006 at 0.7051 first.

In the longer term picture, 0.5506 is a long term bottom, on bullish convergence condition in monthly MACD. Focus is now back on 0.8135 structural resistance. Decisive break there will raise the chance that rise from 0.5506 is an impulsive up trend. Next target should be 61.8% retracement at 0.8950 of 1.1079 to 0.5506 and above. Though, rejection by 0.8135 will keep the case of medium to long term sideway consolidation open.