Daily Pivots: (S1) 0.7708; (P) 0.7725; (R1) 0.7748; More…

AUD/USD is staying in range of 0.7673/7890 and intraday bias remains neutral at this point. Further rise is in favor with 0.7673 support intact. On the upside, break of 0.7890 will resume the rise from 0.7530 to retest 0.8006 high. However, on the downside, firm break of 0.7673 will suggest that correction from 0.8006 is extending with another falling leg. Intraday bias will be turned back to the downside for 0.7530 support and possibly below.

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) 0.6757; (P) 0.6786; (R1) 0.6824; More…

Intraday bias in AUD/USD remains neutral as consolidation from 0.6850 is extending. On the downside, break of 0.6641 should confirm rejection by 0.6871 resistance. Intraday bias will be back on the downside for 0.6521 resistance turned support. However, sustained break of 0.6871 will extend the rise from 0.6169 to 55 week EMA at 0.6912.

In the bigger picture, it’s still unsure if price actions from 0.6169 medium term bottom are developing into a corrective pattern or trend rejection. Rejection by 38.2% retracement of 0.8006 to 0.6169 at 0.6871 will maintain medium term bearishness for another fall through 0.6169 at a later stage. However, firm break of 0.6871, and sustained trading above 55 week EMA (now at 0.6912) will raise the chance of the start of a bullish up trend.

Daily Pivots: (S1) 0.6913; (P) 0.6944; (R1) 0.6996; More…

Intraday bias in AUD/USD remains neutral first. On the downside, break of 0.6854 will resume the correction from 0.7156 to 38.2% retracement of 0.6169 to 0.7156 at 0.6779. On the upside, break of 0.7010 will turn bias back to the upside for retesting 0.7156 high instead.

In the bigger picture, corrective decline from 0.8006 (2021 high) should have completed with three waves down to 0.6169 (2022 low). Further rally should be seen to 61.8% retracement of 0.8006 to 0.6169 at 0.7304. Sustained break there will pave the way to retest 0.8006. This will now remain the favored case as long as 0.6721 support holds.

AUD/USD’s rebound from 0.7105 extended higher last week. Break of 0.7288 support turned resistance indicates short term bottoming. Initial bias stays on the upside this week for 0.7425 resistance next. Sustained break there will argue that whole correction from 0.8006 has completed at 0.7105 already, just above 0.6991/7051 support zone. Stronger rise would be seen to 0.7530 support turned resistance for confirmation. On the downside, below 0.7221 minor support will turn bias back to the downside for 0.7105 and possibly below. But we’d continue to look for strong support from 0.6991/7051 cluster support to bring rebound.

In the bigger picture, rise from 0.5506 medium term bottom could have completed at 0.8006, after failing 0.8135 key resistance. Correction from there could target 0.6991 cluster support (38.2% retracement of 0.5506 to 0.8006 at 0.7051). We’d look for strong support from there to bring rebound. However, sustained break of this level would argue that the whole medium term trend has indeed reversed. Deeper decline would be seen to 61.8% retracement at 0.6461.

In the longer term picture, rise from 0.5506 could have completed at 0.8006. Subsequent fall is now seen as a correction only. As long as 0.6991 structural support holds, we’d expect another rise through 0.8006 at a later stage. However, sustained break of 0.6991 would argue that the trend has reversed and put 0.5506 low back into radar.

Daily Pivots: (S1) 0.7346; (P) 0.7370; (R1) 0.7393; More…

Intraday bias in AUD/USD remains neutral for the moment. Further rally is still in favor as long as 0.7279 support holds. As noted before, correction from 0.8006 should have completed at 0.7105 already. Above 0.7477 will target 0.7530 support turned resistance first. However, firm break of 0.7279 will dampen our bullish view and bring retest of 0.7105 low.

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 form 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) 0.7057; (P) 0.7083; (R1) 0.7097; More…

AUD/USD’s rebound from 0.7020 accelerates to as high as 0.7199 so far today. The solid break of 0.7159 resistance serves as the first sign of medium term reversal, on bullish convergence condition in 4 hour MACD. Intraday bias is now on the upside for 0.7314 resistance for confirmation. On the downside, though, 0.7122 minor support will retain bearishness and turn bias back to the downside for 0.7020 low.

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 indicate medium term bottoming. Otherwise, outlook stays bearish even in case of strong rebound.

Daily Pivots: (S1) 0.7489; (P) 0.7519; (R1) 0.7540; More…

AUD/USD is bounded in range of 0.7411/7566 and intraday bias remains neutral first. On the upside, above 0.7566 will bring stronger recovery. But upside should be limited by 38.2% retracement of 0.8135 to 0.7144 at 0.7688 to bring decline resumption. On the downside, break of 0.7411 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. Decisive 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) 0.7123; (P) 0.7156; (R1) 0.7178; More…

Intraday bias in AUD/USD remains neutral at this point. Considering bearish divergence condition in daily MACD, break of 0.7076 support should confirm short term topping. In this case, intraday bias will be turned back to the downside for 0.6776 support, for correcting the whole rise form 0.5506. Though, break of 0.7243 resistance will extend the rise to 0.7311 long term EMA.

In the bigger picture, rebound from 0.5506 medium term bottom could be correcting whole long term down trend from 1.1079 (2011 high). Further rally would be seen to 55 month EMA (now at 0.7311). This will remain the preferred case as long as it stays above 55 week EMA (now at 0.6790). However, sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

Daily Pivots: (S1) 0.7730; (P) 0.7764; (R1) 0.7800; More…

AUD/USD dips further today but stays above 0.7641 support. Intraday bias remains neutral first and another rise remains mildly in favor. On the upside, break of 0.7819 will resume larger up trend form 0.5506 to 0.7413 from 0.6991 at 0.8170. However, break of 0.7641 will indicate short term topping, on bearish divergence condition in 4 hour MACD. Intraday bias will be turned back to the downside for deeper correction to 0.7461 support 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 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) 0.6901; (P) 0.6942; (R1) 0.7010; More…

Intraday bias in AUD/USD remains neutral at this point. Risk stays mildly on the downside as long as 0.7029 support turned resistance holds. Break of 0.6828 will resume larger fall from 0.8006, and target 0.6756/60 medium term fibonacci level next. On the upside, however, firm break of 0.7029 will indicate short term bottoming, and bring stronger rebound back to 0.7265 resistance instead.

In the bigger picture, price actions from 0.8006 are seen as a corrective pattern to rise from 0.5506 (2020 low). Deeper fall should be seen to 50% retracement of 0.5506 to 0.8006 at 0.6756. This coincides with 100% projection of 0.8006 to 0.7105 from 0.7660 at 0.6760. Strong support is expected from 0.6756/60 cluster to contain downside to complete the correction. However, sustained break of 0.6756/60 would argue that AUD/USD is indeed already in a medium term down trend.

Daily Pivots: (S1) 0.6862; (P) 0.6876; (R1) 0.6894; More…

For now, with 0.6807 minor support intact, further rise is still in favor in AUD/USD. Break of 0.6910 support turned resistance will target 0.7802 key resistance next. On the downside, below 0.6807 minor support will turn intraday bias back to the downside for retesting 0.6677 low.

In the bigger picture, decline from 0.8135 (2018 high) is seen as resuming the long term down trend from 1.1079 (2011 high). Next target is 0.6008 (2008 low). On the upside, break of 0.7082 resistance is needed to be the first sign of medium term bottoming. Otherwise, outlook will remain bearish even in case of strong rebound.

Daily Pivots: (S1) 0.7559; (P) 0.7586; (R1) 0.7610; More…

Intraday bias in AUD/USD is turned neutral with current recovery, and with 4 hour MACD crossed above signal line. Correction from 0.8006 could still extend lower. Below 0.7562 will target 100% projection of 0.8006 to 0.7620 from 0.7848 at 0.7462. We’ll look for strong support from there to bring rebound. However, note that AUD/USD has also completed a head and should top (ls: 0.7819; h: 0.8006; rs: 0.7848). Firm break of 0.7462 will argue that it’s correcting whole up trend from 0.5506. For now, risk will stay on the downside as long as 0.7848 resistance holds, in case of recovery.

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’s rise from 0.7105 accelerated to as high as 0.7477 last week. The break of 0.7425 resistance suggests that whole correction from 0.8006 has completed at 0.7105 already, just above 0.6991/7051 support zone. Initial bias stays on the upside this week for 0.7530 support turned resistance first. Sustained break there will bring retest of 0.8006 high. On the downside, break of 0.7354 minor support will turn intraday bias neutral and bring consolidations 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 form 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 is back 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.

Daily Pivots: (S1) 0.6276; (P) 0.6338; (R1) 0.6371; More…

AUD/USD’s break of 0.6284 support indicates resumption of whole decline from 0.7156. Intraday bias is back on the downside. Next target is 100% projection of 0.7156 to 0.6457 from 0.6894 at 0.6195, which is close to 0.6169 medium term support. For now, outlook will stay bearish as long as 0.6398 resistance holds, in case of recovery.

In the bigger picture, down trend from 0.8006 (2021 high) is possibly still in progress. Decisive break of 0.6169 will target 61.8% projection of 0.8006 to 0.6169 to 0.7156 at 0.6021. This will now remain the favored case as long as 0.6894, in case of strong rebound.

Daily Pivots: (S1) 0.6527; (P) 0.6540; (R1) 0.6553; More…

No change in AUD/USD’s outlook as consolidation from 0.6442 is extending. Intraday bias remains neutral for the moment. Stronger recovery cannot be ruled out, but outlook will remain bearish as long as 0.6621 resistance holds. Break of 0.6642 will resume the decline from 0.6870 towards 0.6269 low.

In the bigger picture, price actions from 0.6169 (2022 low) are seen as a medium term corrective pattern to the down trend from 0.8006 (2021 high). Fall from 0.7156 (2023 high) is seen as the second leg, which might still be in progress. Overall, sideway trading could continue in range of 0.6169/7156 for some more time. But as long as 0.7156 holds, an eventual downside breakout would be mildly in favor.

Daily Pivots: (S1) 0.6741; (P) 0.6780; (R1) 0.6811; More…

AUD/USD rebounds notably after drawing support from 55 4H EMA, but stays below 0.6894/8 resistance zone. Intraday bias remains neutral for the moment. On the upside, decisive break of 0.6898 resistance will firstly confirm resumption of rise from 0.6457. Secondly, that should also confirm completion of the fall from 0.7156 at 0.6457. Next target will be 100% projection of 0.6457 to 0.6898 from 0.6594 at 0.7035, and then 0.7156 resistance.

In the bigger picture, price actions from 0.7156 are seen as a correction to the rebound from 0.6169 (2022 low). Break of 0.6898 resistance will argue that rise from 0.6169 is ready to resume through 0.7156. Next target will be 100% projection of 0.6169 to 0.7156 from 0.6457 at 0.7444. For now, this will be the favored case as long as 55 D EMA (now at 0.6703) holds.

Daily Pivots: (S1) 0.7134; (P) 0.7161; (R1) 0.7191; More…

Intraday bias in AUD/USD remains neutral first. On the upside, break of 0.7209 and sustained trading above 0.7192 should confirm completion of the pull back from 0.7413. Further rise should be seen back to retest 0.7413 high. On the downside, break of 0.7005 will resume the correction to 38.2% retracement of 0.5506 to 0.7413 at 0.6685.

In the bigger picture, while rebound from 0.5506 was strong, there is not enough evidence to confirm bullish trend reversal yet. That is, it could be just a corrective inside the long term up trend. Sustained trading back below 55 week EMA (now at 0.6896) will favor the bearish case and argue that the rebound has completed. Focus will be turned back to 0.5506 low. On the upside, break of 0.7413 will extend the rise from 0.5506 to 38.2% retracement of 1.1079 (2011 high) to 0.5506 (2020 low) at 0.7635.

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) 0.6358; (P) 0.6382; (R1) 0.6405; More…

Intraday bias in AUD/USD stays mildly on the downside for the moment. Current decline is part of the whole fall from 0.7156, next target is 100% projection of 0.7156 to 0.6457 from 0.6894 at 0.6195. On the upside, break of 0.6520 resistance is needed to indicate short term bottoming. Otherwise, risk will stay on the downside in case of recovery.

In the bigger picture, current development argues that the down trend from 0.8006 (2021 high) is still in progress. Decisive break of 0.6169 will target 61.8% projection of 0.8006 to 0.6169 to 0.7156 at 0.6021. This will now remain the favored case as long as 0.6894, in case of strong rebound.

Daily Pivots: (S1) 0.7614; (P) 0.7659; (R1) 0.7687; More…

With 0.7762 minor resistance intact, correction from 0.7819 short term top should extend lower. AUD/USD would target 38.2% retracement of 0.6991 to 0.7819 at 0.7503. On the upside, above 0.7762 will bring retest of 0.7819 high instead.

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 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.