Daily Pivots: (S1) 0.7636; (P) 0.7760; (R1) 0.7828; More…

Intraday bias in AUD/USD is mildly on the downside as correction from 0.8006 could extend lower. But outlook will remain bullish as long as 0.7563 support holds. On the upside, above 0.7844 minor resistance will turn bias to the upside for retesting 0.8006. Break till extend larger up trend from 0.5506. However, decisive break of 0.7563 will bring deeper correction.

In the bigger picture, whole down trend from 1.1079 (2001 high) should have completed at 0.5506 (2020 low) already. Rise from 0.5506 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. But in any case, medium term rally is expected to continue as long as 0.7413 resistance turned support holds.

Daily Pivots: (S1) 0.7821; (P) 0.7846; (R1) 0.7866; More…

Intraday bias in AUD/USD remains neutral for the moment. Considering bearish divergence condition in 4 hour MACD, even in case of another rise, upside should be limited by 0.7896 cluster resistance (61.8% retracement of 0.8124 to 0.7500 at 0.7886) resistance zone to bring short term topping. Break of 0.7804 minor support will turn bias to the downside for 55 day EMA (now at 0.7711).

In the bigger picture, we’re still slightly favoring the case that corrective rise from 0.6826 medium term bottom is completed at 0.8124, after hitting 55 month EMA (now at 0.8032). But stronger than expected rebound from 0.7500 is dampening this bearish view. On the downside, break of 0.7500 will target 0.7328 key cluster support (61.8% retracement 0.6826 to 0.8124 at 0.7322) to confirm this bearish case. But break of 0.8124 will extend the rise from 0.6826 to 38.2% retracement of 1.1079 (2011 high) to 0.6826 (2016 low) at 0.8451 before completion.

Daily Pivots: (S1) 0.7037; (P) 0.7070; (R1) 0.7121; More…

Intraday bias in AUD/USD remains neutral at this point. As long as 0.7159 resistance holds, near term outlook will remain bearish and further decline is expected. Break of 0.7020 extend the down trend from 0.8135 towards 0.6826 low. However, firm break of 0.7159 will be a first sign of trend reversal, on bullish convergence condition in 4 hour MACD, and turn bias back to the upside for 0.7314 resistance.

In the bigger picture, fall from 0.8135 is tentatively treated as resuming long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 will target 0.6008 key support next (2008 low). On the upside, break of 0.7314 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook stays bearish even in case of strong rebound.

Daily Pivots: (S1) 0.7719; (P) 0.7739; (R1) 0.7754; More…

Break of 0.7760 suggests that AUD/USD’s rise from 0.7530 has resumed. Intraday bias is back on the upside for 0.7848 resistance. Firm break there should confirm that correction from 0.8006 has completed with three waves down to 0.7530. Retest of 0.8006 high should be seen next. On the downside, below 0.7705 minor support will turn intraday bias neutral first.

In the bigger picture, whole down trend from 1.1079 (2001 high) should have completed at 0.5506 (2020 low) already. Rise from 0.5506 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. But in any case, medium term rally is expected to continue as long as 0.7413 resistance turned support holds.

AUD/USD rose to as high as 0.8135 last week and breached 0.8124 resistance. Initial bias remains on the upside this week. Sustained break of 0.8124 will resume whole medium term rebound from 0.6826 and target key fibonacci level at 0.8451. Meanwhile, on the downside, break of 0.8003 support will indicate short term topping, likely with bearish divergence condition in 4 hour MACD. And in such case, intraday bias will be turned back to the downside for 55 day EMA (now at 0.7817).

In the bigger picture, current development suggests that medium term rebound from 0.6826 is still in progress and could be resuming. Such rise could target 38.2% retracement of 1.1079 (2011 high) to 0.6826 (2016 low) at 0.8451. As such rise is seen as a corrective move, we’d expect strong resistance from 0.8451 to limit upside and bring reversal.

In the longer term picture, 0.6826 is seen as a long term bottom. Rise from there could either reverse the down trend from 1.1079, or just develop into a corrective pattern. At this point, we’re favoring the latter. And, as long as 38.2% retracement of 1.1079 to 0.6826 at 0.8451 holds, we’d anticipate another decline through 0.6826 at a later stage. But strong support should be seen between 0.4773 (2001 low) and 0.6008 (2008 low).

Daily Pivots: (S1) 0.6779; (P) 0.6802; (R1) 0.6843; More…

AUD/USD’s strong rebound and break of 0.6834 resistance suggests that pull back from 0.6929 has completed at 0.6754, on bullish convergence condition in 4 hour MACD. Intraday bias is now mildly on the upside for retesting 0.6929 resistance first. Break there will resume the rebound from 0.6670 and target 100% projection of 0.6670 to 0.6929 from 0.6754 at 0.7013. On the downside, break of 0.6754 will resume the fall form 0.6929 to retest 0.6670 low.

In the bigger picture, with 0.7082 resistance intact, there is no clear confirmation of trend reversal yet. That is, down trend from 0.8135 (2018 high) is still expect to continue to 0.6008 (2008 low). However, decisive break of 0.7082 will confirm medium term bottoming and bring stronger rally back to 55 month EMA (now at 0.7525).

Daily Pivots: (S1) 0.7527; (P) 0.7558; (R1) 0.7612; More…

AUD/USD’s rebound from 0.7411 resumed by breaking 0.7566 and reaches as high as 0.7592 so far. Intraday bias is mildly on the upside for further rise, possibly to 55 day EMA (now at 0.7633). But strong resistance should be seen at 38.2% retracement of 0.8135 to 0.7144 at 0.7688 to limit upside and bring decline resumption eventually. On the downside, below 0.7502 minor support will turn intraday bias back to the downside for 0.7411 short term bottom first. Break will resume the fall from 0.8135 and target cluster support at 0.7328 (61.8% retracement of 0.6826 to 0.8135 at 0.7326).

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. Break of 0.7500 key support suggests that such correction is completed at 0.8135. Deeper decline would be seen back to retest 0.6826 low. In case of another rise, we’d expect strong resistance from 38.2% retracement of 1.1079 to 0.6826 at 0.8451 to limit upside to bring long term down trend resumption eventually.

Daily Pivots: (S1) 0.7209; (P) 0.7253; (R1) 0.7282; More…

Downside momentum in AUD/USD remains unconvincing. But with 0.7320 minor resistance intact, fall from 0.7277 is still in progress for 0.7105 low first. Firm break there will resume whole decline from 0.8006 for 0.6991 support next. On the upside, above 0.7320 minor resistance will turn bias back to the upside for 0.7477 resistance 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) 0.6568; (P) 0.6629; (R1) 0.6661; More…

Intraday bias in AUD/USD stays on the downside at this point. Sustained break of 61.8% retracement of 0.6457 to 0.6898 at 0.6625 will path the way back to 0.6457 key support level. On the upside, above 0.6719 resistance will turn intraday bias neutral again first.

In the bigger picture, outlook is mixed up by the deeper than expected pull back from 0.6898. Still, price actions from 0.7156 are seen as a correction to rebound from 0.6169. Break of 0.6457 will resume the fall towards 0.6169 low. On the upside, though, break of 0.6898 resistance will argue that rise from 0.6169 is ready to resume through 0.7156.

AUD/USD retreated after surging to 0.6588 last week. But late breach of this resistance indicates that recent rally is resuming. Initial bias is back on the upside this week. Current rise from 0.6269 should target falling channel resistance (now at 0.6670) next. For now, outlook will remain bullish as long as 0.6520 support holds, in case of retreat.

In the bigger picture, there is no confirmation that down trend from 0.8006 (2021 high) has completed. While current rebound from 0.6269 might extend higher, it could be the third leg of the corrective pattern from 0.6169 (2022 low) only. For now, medium term bearishness will remain as long as 0.6894 resistance holds.

In the long term picture, the down trend from 1.1079 (2011 high) should have completed at 0.5506(2020 low) already. It’s unsure yet whether price actions from 0.5506 are developing into a corrective pattern, or trend reversal. But in either case, fall from 0.8006 is seen the second leg of the pattern. Hence, in case of deeper decline, downside strong support should emerge above 0.5506 to bring reversal.

Daily Pivots: (S1) 0.7021; (P) 0.7030; (R1) 0.7049; More…

No change in AUD/USD’s outlook. Intraday bias remains on the upside with focus on 0.7047 resistance. Break will resume the rebound from 0.6831 and target 61.8% retracement of 0.7295 to 0.6831 at 0.7118. Sustained trading above will pave the way to 0.7205 resistance next. On the downside, break of 0.6983 minor support will turn bias to the downside for 0.6910 support instead.

In the bigger picture, with 0.7393 key resistance intact, medium term outlook remains bearish. The decline from 0.8135 (2018 high) is seen as resuming long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 (2016 low) will confirm this bearish view and resume the down trend to 0.6008 (2008 low). However, firm break of 0.7393 will argue that fall from 0.8135 has completed. And corrective pattern from 0.6826 has started the third leg, targeting 0.8135 again.

Daily Pivots: (S1) 0.7010; (P) 0.7029; (R1) 0.7042; More…

AUD/USD is losing upside momentum again as seen in 4 hour MACD. But further rise is expected as long as 0.6956 support holds. Rebound from 0.6831 could extend to 61.8% retracement of 0.7295 to 0.6831 at 0.7118 first. Sustained break till target 0.7295 resistance next. On the downside, break of 0.6956 support, however, will indicate completion of the rebound. Intraday bias will be turned back to the downside for retesting 0.6831 low.

In the bigger picture, with 0.7393 key resistance intact, medium term outlook remains bearish. The decline from 0.8135 (2018 high) is seen as resuming long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 (2016 low) will confirm this bearish view and resume the down trend to 0.6008 (2008 low). However, firm break of 0.7393 will argue that fall from 0.8135 has completed. And corrective pattern from 0.6826 has started the third leg, targeting 0.8135 again.

Daily Pivots: (S1) 0.7620; (P) 0.7650; (R1) 0.7670; More…

Intraday bias in AUD/USD remains neutral for the moment. With 0.7510 support intact, further rise cannot be ruled out. However, lost of upside momentum is seen in bearish divergence condition in 4 hours MACD. We’d expect strong resistance from 0.7777/7833 resistance zone to limit upside and bring near term reversal. On the downside, break of 0.7510 minor support will indicate that rise from 0.7158 has completed already and turn bias back to the downside for this key near term support level.

In the bigger picture, we’re still treating price actions from 0.6826 low as a correction. And, as long as 38.2% retracement of 0.9504 to 0.6826 at 0.7849 holds, long term down trend from 1.1079 is expected to resume sooner or later. Break of 0.6826 low will target 0.6008 key support level. However, firm break of 0.7849 will indicate that rise from 0.6826 is developing into a medium term rebound, rather than a sideway pattern. In such case, stronger rise should be seek to 55 month EMA (now at 0.8205) and above.

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Daily Pivots: (S1) 0.6722; (P) 0.6748; (R1) 0.6772; More…

Outlook in AUD/USD is unchanged and intraday bias remains neutral first. Upside of recovery should be limited by 0.6777 resistance to bring fall resumption. On the downside, decisive break of 0.6670 low will confirm resumption of larger down trend. Next target will be 0.6008 key support. Nevertheless, firm break of 0.6777 will indicate short term bottoming and extend the consolidation pattern form 0.6670 with another near term rise.

In the bigger picture, AUD/USD’s decline from 0.8135 (2018 high) is still in progress. It’s part of the larger down trend from 1.1079 (2011 high). Next target is 0.6008 (2008 low). This will remain the favor case as long as 0.7031 resistance holds.

Daily Pivots: (S1) 0.6484; (P) 0.6526; (R1) 0.6584; More….

AUD/USD is staying in consolidation from 0.6433 temporary low and intraday bias remains neutral first. Upside of recovery should be limited below 0.6662 support turned resistance to bring fall resumption. On the downside, break of 0.6433 will turn bias to the downside for 161.8% projection of 0.6933 to 0.6662 from 0.6750 at 0.6312.

In the bigger picture, AUD/USD’s decline from 0.8135 (2018 high) is still in progress. It’s part of the larger down trend from 1.1079 (2011 high). Rejection by 55 week EMA affirms medium term bearishness. Next target is 0.6008 (2008 low). Outlook will stay bearish as long as 0.7031 resistance holds, even in case of strong rebound.

Daily Pivots: (S1) 0.7888; (P) 0.7961; (R1) 0.8007; More…

At this point, AUD/USD is still bounded in range of 0.7807/8124. Intraday bias remains neutral for more consolidative trading. Deeper fall cannot be ruled out. But still, with 0.7807 support intact, near term outlook stays bearish and another rise is expected. Break of 0.8124 will turn bias to the upside and target 100% projection of 0.6826 to 0.7833 from 0.7328 at 0.8335 next. However, considering bearish divergence condition in 4 hour MACD, firm break of 0.7807 will indicate near term reversal and turn bias back to the downside for 0.7328 key support.

In the bigger picture, rise from 0.6826 medium term bottom is still in progress. At this point, there is no confirmation of trend reversal yet and we’ll continue to treat such rebound as a corrective pattern. But in any case, break of 55 month EMA (now at 0.8090) will target 38.2% retracement of 1.1079 to 0.6826 at 0.8451. Break of 0.7807 support is needed to to be the first sign of completion of the rebound. Otherwise, further rise is now in favor.

Daily Pivots: (S1) 0.6807; (P) 0.6859; (R1) 0.6888; More…

Intraday bias in AUD/USD remains neutral for the moment. We’d still expect correction from 0.7064 short term top to extend with another decline. Break of 0.6776 will target 38.2% retracement of 0.5506 to 0.7064 at 0.6469. Nevertheless, sustained break of 0.7064 will resume whole rise from 0.5506 instead.

In the bigger picture, rebound from 0.5506 medium term bottom could be correcting whole long term down trend form 1.1079 (2011 high). Further rally would be seen to 55 month EMA (now at 0.7340). This will remain the preferred case as long as it stays above 55 week EMA (now at 0.6727). Sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

Daily Pivots: (S1) 0.6913; (P) 0.6939; (R1) 0.6953; More…

Intraday bias in AUD/USD remains on the downside for retesting 0.6864. Corrective recovery from 0.6864 should have completed at 0.7022 after rejection by 55 day EMA. Break of 0.6864 will resume the decline fro 0.7295 for retesting 0.6722 low. On the upside, above 0.6965 minor resistance will mix up the near term outlook and turn intraday bias neutral first.

In the bigger picture, with 0.7393 key resistance intact, medium term outlook remains bearish. The decline from 0.8135 (2018 high) is seen as resuming long term down trend from 1.1079 (2011 high). Decisive break of 0.6826 (2016 low) will confirm this bearish view and resume the down trend to 0.6008 (2008 low). However, firm break of 0.7393 will argue that fall from 0.8135 has completed. And corrective pattern from 0.6826 has started the third leg, targeting 0.8135 again.

Daily Pivots: (S1) 0.7630; (P) 0.7664; (R1) 0.7689; More…

Intraday bias in AUD/USD remains neutral for consolidation above 0.7624 temporary low. In case of another rise, upside of recovery should be limited well below 0.7896 resistance to bring decline resumption. Firm break of 0.7624 will resume whole decline from 0.8124 and target next key cluster level at 0.7322/8.

In the bigger picture, corrective rise from 0.6826 medium term bottom is likely completed at 0.8124, after hitting 55 month EMA (now at 0.8067). Decisive break of 0.7328 key cluster support (61.8% retracement 0.6826 to 0.8124 at 0.7322) will confirm. And in that case, long term down trend from 1.1079 (2011 high) will likely be resuming. Break of 0.6826 will target 61.8% projection of 1.1079 to 0.6826 from 0.8124 at 0.5496. This will now be the favored case as long as 0.7896 near term resistance 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.