Daily Pivots: (S1) 0.6994; (P) 0.7035; (R1) 0.7068; More…

Immediate focus is now on 0.7005 support. Decisive break there will confirm resumption of whole corrective fall from 0.7413. Intraday bias will be turned to the downside or 38.2% retracement of 0.5506 to 0.7413 at 0.6685. In any case, near term outlook will stays cautiously bearish as long as 0.7157 resistance holds.

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 correction inside the long term down trend. Sustained trading back below 55 week EMA (now at 0.6916) 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) 0.7113; (P) 0.7130; (R1) 0.7144; More…

Intraday bias in AUD/USD is staying neutral as the pair remains above 0.7005/20 support zone. on the downside. . With 0.7342 resistance intact, further decline is expected. On the downside, break of 0.7005 will resume the corrective fall from 0.7413, and target 38.2% retracement of 0.5506 to 0.7413 at 0.6685. However, firm break of 0.7243 will bring retest of 0.7413 high.

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 correction inside the long term down trend. Sustained trading back below 55 week EMA (now at 0.6916) 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) 0.7113; (P) 0.7130; (R1) 0.7144; More…

Intraday bias in AUD/USD remains neutral at this point and some more consolidations could be seen. With 0.7342 resistance intact, further decline is expected. On the downside, break of 0.7005 will resume the corrective fall from 0.7413, and target 38.2% retracement of 0.5506 to 0.7413 at 0.6685. However, firm break of 0.7243 will bring retest of 0.7413 high.

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 correction inside the long term down trend. Sustained trading back below 55 week EMA (now at 0.6916) 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) 0.7102; (P) 0.7124; (R1) 0.7145; More…

AUD/USD is staying in consolidation from 0.7020 and intraday bias remains neutral at this point. With 0.7342 resistance intact, further decline is expected. On the downside, break of 0.7005 will resume the corrective fall from 0.7413, and target 38.2% retracement of 0.5506 to 0.7413 at 0.6685. However, firm break of 0.7243 will bring retest of 0.7413 high.

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 correction inside the long term down trend. Sustained trading back below 55 week EMA (now at 0.6916) 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) 0.7105; (P) 0.7132; (R1) 0.7162; More…

Intraday bias in AUD/USD remains neutral at this point. Further fall is mildly in favor with 0.7243 resistance intact. On the downside, break of 0.7005 will resume the corrective fall from 0.7413, and target 38.2% retracement of 0.5506 to 0.7413 at 0.6685. However, firm break of 0.7243 will bring retest of 0.7413 high.

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 correction inside the long term down trend. Sustained trading back below 55 week EMA (now at 0.6916) 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.

AUD/USD recovered ahead of 0.7005 last week but upside was limited well below 0.7243 resistance so far. Initial bias stays neutral this week first and further fall is mildly in favor with 0.7243 resistance intact. On the downside, break of 0.7005 will resume the corrective fall from 0.7413, and target 38.2% retracement of 0.5506 to 0.7413 at 0.6685. However, firm break of 0.7243 will bring retest of 0.7413 high.

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 correction inside the long term down trend. Sustained trading back below 55 week EMA (now at 0.6916) 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.

In the longer term picture, bullish convergence condition in monthly MACD is a condition for long term bullish reversal. Yet, AUD/USD struggled to sustain above 55 month EMA (now at 0.7306). It’s also limited below 38.2% retracement of 1.1079 (2011 high) to 0.5506 (2020 low) at 0.7635. Hence, there is not enough evidence for reversal yet. Down trend from 1.1079 could still extend through 0.5506 at a later stage.

Daily Pivots: (S1) 0.7093; (P) 0.7109; (R1) 0.7133; More…

Intraday bias in AUD/USD remains neutral first. On the upside, break of 0.7243 resistance will suggest that the correction from 0.7413 has completed and bring retest of this high. On the downside, through, 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 correction inside the long term down trend. Sustained trading back below 55 week EMA (now at 0.6916) 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) 0.7064; (P) 0.7100; (R1) 0.7154; More…

Stronger than expected rebound in AUD/USD and break of 0.7114 minor resistance mixed up the near term outlook. On the upside, break of 0.7243 resistance will suggests that the correction from 0.7413 has completed and bring retest of this high. On the downside, through, 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 correction inside the long term down trend. Sustained trading back below 55 week EMA (now at 0.6916) 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) 0.7022; (P) 0.7047; (R1) 0.7074; More…

AUD/USD’s decline lost momentum ahead of 0.7005 support and recovered. Intraday bias is turned neutral first. Further fall is expected as long as 0.7114 resistance holds. Break of 0.7005 will resume the corrective fall from 0.7413 to 38.2% retracement of 0.5506 to 0.7413 at 0.6685. However, break of 0.7114 will turn bias back to the upside for 0.7243 resistance instead.

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 correction inside the long term down trend. Sustained trading back below 55 week EMA (now at 0.6916) 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) 0.7047; (P) 0.7081; (R1) 0.7103; More…

AUD/USD’s fall from 0.7243 resumes after brief recovery and intraday bias is back on the downside for 0.7005 support. Break there will confirm resumption of whole corrective fall from 0.7413. Next target will be 38.2% retracement of 0.5506 to 0.7413 at 0.6685. This will now remain the favored case as long as 0.7114 minor resistance holds.

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 correction inside the long term down trend. Sustained trading back below 55 week EMA (now at 0.6916) 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) 0.7066; (P) 0.7082; (R1) 0.7094; More…

AUD/USD is staying in consolidation above 0.7056 temporary low and intraday bias remains neutral first. We’re favoring the case that corrective fall from 0.7413 is resuming. On the downside, below 0.7056 will target 0.7005 support first. Break will confirm this case and target 38.2% retracement of 0.5506 to 0.7413 at 0.6685. However, break of 0.7128 minor resistance will mix up the near term outlook again.

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 correction inside the long term down trend. Sustained trading back below 55 week EMA (now at 0.6916) 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) 0.7066; (P) 0.7082; (R1) 0.7094; More…

Intraday bias in AUD/USD is turned neutral with 4 hour MACD crossed above signal line. We’re favoring the case that corrective fall from 0.7413 is resuming. Below 0.7056 will target 0.7005 support first. Break will confirm this case and target 38.2% retracement of 0.5506 to 0.7413 at 0.6685. However, Break of 0.7128 minor resistance will mix up the near term outlook again.

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 correction inside the long term down trend. Sustained trading back below 55 week EMA (now at 0.6916) 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.

AUD/USD’s fall last week argue that rebound from 0.7005 has completed at 0.7243. More importantly, the corrective fall from 0.7413 is likely still in progress. Initial bias stays on the downside this week for 0.7005 support first. Break will confirm this case and target 38.2% retracement of 0.5506 to 0.7413 at 0.6685. On the upside, above 0.7128 minor resistance will mix up the outlook again and turn intraday bias neutral first.

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 correction inside the long term down trend. Sustained trading back below 55 week EMA (now at 0.6916) 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.

In the longer term picture, bullish convergence condition in monthly MACD is a condition for long term bullish reversal. Yet, AUD/USD struggled to sustain above 55 month EMA (now at 0.7306). It’s also limited below 38.2% retracement of 1.1079 (2011 high) to 0.5506 (2020 low) at 0.7635. Hence, there is not enough evidence for reversal yet. Down trend from 1.1079 could still extend through 0.5506 at a later stage.

Daily Pivots: (S1) 0.7044; (P) 0.7107; (R1) 0.7158; More…

Intraday bias in AUD/USD remains on the downside for 0.7005 support. Break will resume corrective fall from 0.7413. Next target is 38.2% retracement of 0.5506 to 0.7413 at 0.6685. On the upside, above 0.7128 minor resistance will mix up the outlook again and turn intraday bias neutral first.

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 0.6915) 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) 0.7146; (P) 0.7169; (R1) 0.7184; More…

AUD/USD’s strong break of 0.7095 suggests that recovery from 0.7005 has completed at 0.7243. Correction fall form 0.7413 should be ready to resume. Intraday bias is back on the downside for 0.7005 first. Break will target 38.2% retracement of 0.5506 to 0.7413 at 0.6685. On the upside, above 0.7128 minor resistance will dampen this bearish case and turn bias neutral first.

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 0.6915) 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) 0.7146; (P) 0.7169; (R1) 0.7184; More…

AUD/USD’s fall from 0.7243 extends lower but stays above 0.7095 support. Intraday bias remains neutral first. Another rise could still be seen as long as 0.7095 support holds. On the upside, above 0.7243 will extend the rebound from 0.7005 to retest 0.7413 high. Decisive break there will resume larger rise form 0.5506 to 0.7635 fibonacci level. However, firm break of 0.7095 will argue that corrective fall from 0.7413 is resuming. Intraday bias will be turned back to the downside for 0.7005, and then 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 0.6898) 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) 0.7135; (P) 0.7177; (R1) 0.7203; More…

Intraday bias in AUD/USD remains neutral for the moment. Further rise is in favor as long as 0.7095 support holds. On the upside, above 0.7243 will extend the rebound from 0.7005 to retest 0.7413 high. Decisive break there will resume larger rise form 0.5506 to 0.7635 fibonacci level. However, firm break of 0.7095 will argue that corrective fall from 0.7413 is resuming through 0.7005.

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 0.6898) 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) 0.7198; (P) 0.7217; (R1) 0.7230; More…

Intraday bias in AUD/USD is turned neutral with today’s retreat. But further rise is in favor as long as 0.7095 support holds. On the upside, above 0.7243 will extend the rebound form 0.7005 to retest 0.7413 high. Decisive break there will resume larger rise form 0.5506 to 0.7635 fibonacci level. However, firm break of 0.7095 will argue that corrective fall from 0.7413 is resuming through 0.7005.

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 0.6898) 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) 0.7186; (P) 0.7215; (R1) 0.7269; More…

Intraday bias in AUD/USD remains on the upside at this point. Rebound from 0.7005 is in progress for retesting 0.7413 high. Decisive break there will resume larger rise form 0.5506 to 0.7635 fibonacci level. On the downside, break of 0.7095 support is needed to indicate completion of the rebound. Otherwise near term outlook will stay mildly bearish in case of retreat.

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 0.6898) 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.

AUD/USD’s rebound from 0.7005 resumed last week by taking out 0.7209. The development also suggests that corrective fall from 0.7413 has completed. Initial bias stays on the upside this week for retesting 0.7413 resistance first. Break there will resume larger rise form 0.5506 to 0.7635 fibonacci level. On the downside, break of 0.7095 support is needed to indicate completion of the rebound. Otherwise near term outlook will stay mildly bearish in case of retreat.

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 0.6898) 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.

In the longer term picture, bullish convergence condition in monthly MACD is a condition for long term bullish reversal. Yet, AUD/USD struggled to sustain above 55 month EMA (now at 0.7311). It’s also limited below 38.2% retracement of 1.1079 (2011 high) to 0.5506 (2020 low) at 0.7635. Hence, there is not enough evidence for reversal yet. Down trend from 1.1079 could still extend through 0.5506 at a later stage.