Daily Pivots: (S1) 0.6663; (P) 0.6692; (R1) 0.6716; More…

AUD/USD’s fall from 0.6898 resumed after brief recovery and intraday bias is back on the downside. 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 the 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.

Daily Pivots: (S1) 0.6517; (P) 0.6541; (R1) 0.6581; More…

AUD/USD rises further to 0.6585 so far as rally from 0.6269 continues today. Intraday bias stays on the upside at this point. Current development argues that whole decline from 0.7156 has completed with three waves down to 0.6269. Further rally should be seen to falling channel resistance (now at 0.6676) next. On the downside, below 0.6533 minor support will turn intraday bias neutral first. But risk will stay on the upside as long as 0.6451 support holds.

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.

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.

Daily Pivots: (S1) 0.7312; (P) 0.7353; (R1) 0.7380; More…

AUD/USD’s rebound was limited at 0.7393 and retreated sharply. Intraday bias is turned neutral first. For now, as long as 0.7199 support holds, corrective rise from 0.7020 medium term bottom should still extend higher. On the upside, above 0.7393 will target 38.2% retracement of 0.8135 to 0.7020 at 0.7446. However, on the downside, break of 0.7199 will suggest that such rebound has completed earlier than expected. Intraday bias will be turned back to the downside for retesting 0.7020 low.

In the bigger picture, a medium term bottom is in place at 0.7020 ahead of 0.6826 key support (2016 low). Stronger rebound would be seen to corrective the whole fall from 0.8135 high. But we’d expect strong resistance from 0.7500 support turned resistance to limit upside. Medium term fall from 0.8135 should resume and extend to take on 0.6826 low at a later stage, after the correction from 0.7020 completes.

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.

AUD/USD stayed in sideway trading below 0.7890 last week and outlook is unchanged. Initial bias remains neutral this week first. Further rise will remain mildly in favor as long as 0.7673 support holds. On the upside, break of 0.7890 resistance will resume the rally from 0.7530 to retest 0.8006 high. On the downside, 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.

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.

Daily Pivots: (S1) 0.6804; (P) 0.6879; (R1) 0.6928; More…

Intraday bias in AUD/USD stays on the downside for the moment. Current fall is part of the decline from 0.8006 and should target 0.6756 medium term fibonacci level next. On the upside, break of 0.7029 support turned resistance will turn intraday bias neutral again first. But outlook will remain bearish as long as 0.7265 resistance holds.

In the bigger picture, price actions from 0.8006 are seen as a corrective pattern to rise from 0.5506 (2020 low) with fall from 0.7660 as the third leg. 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 in a medium term down trend.

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) 0.6537; (P) 0.6562; (R1) 0.6612; More…

AUD/USD’s strong rebound suggests that fall from 0.6666 has completed at 0.6503 already. But upside is kept below this resistance for now and intraday bias stays neutral. On the upside, break of 0.6666 will resume the rise from 0.6442 to 61.8% retracement of 0.6870 to 0.64420 at 0.6707. On the downside, break of 0.6503 will argue that fall from 0.6870 is ready to resume through 0.6442 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) 0.7730; (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) 0.7195; (P) 0.7235; (R1) 0.7258; More…

Intraday bias in AUD/USD remains neutral as consolidation from 0.7325 continues. On the upside, sustained break of 0.7314 resistance will indicate medium term reversal. Further rally should be seen to 38.2% retracement of 0.8135 to 0.7020 at 0.7446 next. Nevertheless, failure to sustain above 0.7314, and break of 0.7164 support will retain bearishness and turn bias back to the downside for retesting 0.7020 low.

In the bigger picture, AUD/USD’s decline from 0.8135 could have completed at 0.7020 already, ahead of 0.6826 key support (2016 low). Decisive break of 0.7314 will confirm and bring strong rebound. But for now, we’d expect strong resistance from 0.7500 support turned resistance to limit upside. Medium term fall from 0.8135 should extend to take on 0.6826 low at a later stage.

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 stayed in range of 0.7673/7890 last week and outlook is unchanged. Initial bias remains neutral this first and another rise is mildly in favor. 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.

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.

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) 0.6358; (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.

AUD/USD breached 0.6680 support briefly last week but failed to close below. Initial bias remains neutral this week first. Decisive break of 0.6680 will resume larger down trend. Next target will be 0.6461 long term fibonacci level. On the upside, above 0.6769 minor resistance will turn bias back to the upside for 0.6915 resistance instead.

In the bigger picture, price actions from 0.8006 (2021 high) is seen more as a corrective pattern to rise from 0.5506 (2020 low). Or it could also be a bearish impulsive move. In either case, outlook will remain bearish as long as 0.7135 resistance holds. Next target is 61.8% retracement of 0.5506 to 0.8006 at 0.6461.

In the long term picture, rejection by 0.8135 resistance suggests that the long term down trend from 1.1079 (2011 high) is not ready to reverse. Yet, the structure of the fall from 0.8006 still argues that it’s a corrective move. Hence, break of 0.5506 low is not envisaged for now. The long term outlook stays neutral first, and will be reassessed later after the fall from 0.8006 completes.

Daily Pivots: (S1) 0.6637; (P) 0.6693; (R1) 0.6745; More…

Intraday bias in AUD/USD remains neutral as consolidation from 0.6796 is extending. Further rise is expected as long as 0.6521 resistance turned support holds. On the upside, break of 0.6796 will resume the rise from 0.6169 to 0.6871 fibonacci level. However, sustained break of 0.6521 will argue that whole rebound from 0.6169 is over, and bring deeper fall to retest this low.

In the bigger picture, a medium term bottom is in place at 0.6160 already. But it’s too early to call for trend reversal. Nevertheless, even as a corrective move, rise from 0.6169 should target 38.2% retracement of 0.8006 to 0.6169 at 0.6871. Sustained trading above 55 week EMA (now at 0.6927) will raise the chance of the start of a bullish up trend. This will now remain the favored case as long as 0.6521 resistance turned support holds.

Daily Pivots: (S1) 0.6925; (P) 0.6958; (R1) 0.7014; More…

Intraday bias in AUD/USD remains neutral as range trading continues. Corrective rebound from 0.6680 could have completed with three waves up to 0.7135. Below 0.6855 will target a retest on 0.6680 low. However, break of 0.7135 will invalidate this view and resume the rebound from 0.6680 instead.

In the bigger picture, price actions from 0.8006 (2021 high) is seen more as a corrective pattern to rise from 0.5506 (2020 low). Or it could also be a bearish impulsive move. In either case, outlook will remain bearish as long as 0.7282 resistance holds. Next target is 61.8% retracement of 0.5506 to 0.8006 at 0.6461.

Daily Pivots: (S1) 0.6699; (P) 0.6718; (R1) 0.6747; More…

Intraday bias in AUD/USD remains neutral for the moment. On the downside, sustained break of 38.2% retracement of 0.6169 to 0.6892 at 0.6616 will indicate rejection by 0.66871 fibonacci level. Deeper fall should then be seen to 61.8% retracement at 0.6445. On the upside, break of 0.6892 will resume the rally from 0.6169.

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 reversal. 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 0.6900) will raise the chance of the start of a bullish up trend.