Daily Pivots: (S1) 0.7733; (P) 0.7757; (R1) 0.7797; More…

Intraday bias in AUD/USD remains neutral for the moment and another rise is still mildly in favor. Break of 0.7890 will target a test on 0.8005 high. However, firm break of 0.7687 support should extend the correction from 0.8006 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) 0.6839; (P) 0.6862; (R1) 0.6876; More…

AUD/USD drops further to as low as 0683 so far today as decline from 0.7295 is extending. Intraday bias stays the downside for retesting 0.6722 low next. On the upside, above 0.6884 minor resistance will turn intraday bias neutral and bring consolidations. But recovery should be limited well below 0.7022 resistance to bring fall resumption.

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) 0.6743; (P) 0.6780; (R1) 0.6817; More…

AUD/USD edged higher to 0.6817 but quickly retreated after failing to sustain above 0.6804 resistance. Intraday bias remains neutral for the moment. On the upside, decisive break of 0.6817 resistance will indicate completion of whole fall from 0.7156, and turn near term outlook bullish for retesting this high. However, break of 0.6716 minor support will indicate rejection by 0.6804. That would retain near term bearishness, and turn bias back to the downside for retesting 0.6563/72 support zone, with prospect of resuming the whole decline from 0.7156.

In the bigger picture, as long as 61.8% retracement of 0.6169 to 0.7156 at 0.6546 holds, the decline from 0.7156 is seen as a correction to rally from 0.6169 (2022 low) only. Another rise should still be seen through 0.7156 at a later stage. However, sustained break of 0.6546 will raise the chance of long term down trend resumption through 0.6169 low.

Daily Pivots: (S1) 0.6986; (P) 0.7006; (R1) 0.7040; More…

Intraday bias in AUD/USD remains on the upside for 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) 0.7584; (P) 0.7630; (R1) 0.7660; More…

Intraday bias in AUD/USD is turned neutral as it retreated after hitting 0.7667. Another rise is mildly in favor as long as 0.7590 minor support holds. Above 0.7676 will resume the rebound from 0.7530 short term bottom to 0.7848 resistance. Break there should confirm completion of the correction from 0.8006, and bring retest of this high. However, break of 0.7590 minor support will turn bias to the downside for 0.7530 and below, to extend the correction from 0.8006.

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) 0.7382; (P) 0.7409; (R1) 0.7440; More….

AUD/USD’s rise resumed after brief consolidation and intraday bias is back on the upside for 0.7477 resistance. Firm break there will argue that larger decline from 0.8006 has completed and turn near term outlook bullish. Next target is 100% projection of 0.7105 to 0.7477 from 0.7169 at 0.7541, and then 161.8% projection at 0.7771. On the downside, though, below 0.7377 minor support will turn intraday bias neutral 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 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) 0.7262; (P) 0.7314; (R1) 0.7347; More…

Intraday bias in AUD/USD remains neutral for the moment as consolidation from 0.7440 could extend. Further rally will remain in favor as long as 0.7093 support holds. As noted before, larger decline from 0.8006 might have completed at 0.6966 already. Above 0.7440 will resume the rise from 0.6966 for 0.7555 resistance next.

In the bigger picture, focus remains on 0.6991 key structural support. Sustained break there will argue that the whole up trend from 0.5506 might be finished at 0.8006, after rejection by 0.8135 long term resistance. Deeper decline would then be seen back to 61.8% retracement of 0.5506 to 0.8006 at 0.6461. Meanwhile, strong rebound from 0.6991 will retain medium term bullishness. That is, whole up trend from 0.5506 is still in progress for another rise through 0.8006 at a later stage.

Daily Pivots: (S1) 0.6713; (P) 0.6738; (R1) 0.6789; More…

AUD/USD rebounded strongly ahead of 0.6677. But still, it’s staying in consolidation between 0.6677/6822. Intraday bias remains neutral first. On the downside, break of 0.6677 will resume larger down trend to 100% projections of 0.7295 to 0.6831 from 0.7082 at 0.6618. On the upside, above 0.6822 will bring stronger rebound instead.

In the bigger picture, decline from 0.8135 (2018 high) is seen as resuming the long term down trend from 1.1079 (2011 high). Firm break of 0.6826 (2016 low) should confirm this bearish view. Further fall should be seen to 0.6008 (2008 low) next. 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) 0.6820; (P) 0.6839; (R1) 0.6856; More…

AUD/USD’s break of 0.6809 support suggests that corrective recovery from 0.6670 has completed at 0.6929 already. Intraday bias is turned back to the downside for retesting 0.6670 first. Break will resume larger down trend. On the upside, above 0.6841 minor resistance will turn intraday bias neutral and bring recovery. But risk will stay on the downside as long as 0.6929 resistance holds.

In the bigger picture, the case of medium term bullish reversal is building up with bullish convergence condition in weekly MACD. But there is no clear confirmation yet. As long as 0.7082 resistance holds, larger 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 0.7529).

Daily Pivots: (S1) 0.7682; (P) 0.7714; (R1) 0.7746; More…

AUD/USD is still staying in consolidation from 0.7819 and intraday bias remains neutral first. As long as 0.7641 support holds, further rise is expected. On the upside, break of 0.7819 will resume larger up trend to 61.8% projection of 0.5506 to 0.7413 from 0.6991 at 0.8170. However, decisive break of 0.7641 will turn bias to the downside, for deeper correction to 0.7461 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 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) 0.7242; (P) 0.7285; (R1) 0.7350; More…

AUD/USD rebounded strongly and focus is now back on 0.7314 key resistance. 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 0.7199 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) 0.7260; (P) 0.7277; (R1) 0.7304; More…

AUD/USD is staying in consolidation from 0.7219 and intraday bias remains neutral first. On the downside, below 0.7219 will resume the fall from 0.7477 to retest 0.7105 low. 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) 0.7600; (P) 0.7618; (R1) 0.7641; More…

Intraday bias in AUD/USD remains neutral and outlook is unchanged. Rebound from 0.7530 is in favor to continue as long as 0.7587 minor support holds. Break of 0.767 will target 0.7848 resistance. Firm break there should confirm completion of the corrective fall from 0.8006. However, break of 0.7587 will likely resume the correction from 0.8006 through 0.7530.

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) 0.6735; (P) 0.6757; (R1) 0.6777; More…

AUD/USD is staying above 0.6677 support despite today’s sharp fall. Intraday bias remains neutral for the moment. On the upside, break of 0.6822 will extend the rebound from 0.6677. But upside should be limited below 0.6910 support turned resistance to bring fall resumption. On the downside, break of 0.6677 will target 100% projections of 0.7295 to 0.6831 from 0.7082 at 0.6618.

In the bigger picture, decline from 0.8135 (2018 high) is seen as resuming the long term down trend from 1.1079 (2011 high). Firm break of 0.6826 (2016 low) should confirm this bearish view. Further fall should be seen to 0.6008 (2008 low) next. 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) 0.7718; (P) 0.7738; (R1) 0.7766; More…

Range trading continues in AUD/USD and intraday bias remains neutral for the moment. On the upside, break of 0.7837 will suggest that the correction from 0.8006 has completed. Intraday bias will be turned back to the upside for retesting this high. On the downside, below 0.7620 will target 0.7563 support. Firm break of 0.7563 will indicate that deeper correction is underway, back towards 0.7413 resistance turned support.

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) 0.6567; (P) 0.6609; (R1) 0.6647; More…

Intraday bias in AUD/USD remains neutral for the moment. Some more consolidations could be seen below 0.6674 first. But further rally is expected as long as 0.6521 resistance turned support holds. On the upside, sustained break break of channel resistance (now at 0.6661) will argue that whole decline from 0.7156 has completed with three waves down to 0.6269. Further rally should then be seen to 0.6894 resistance for confirmation.

In the bigger picture, there is no confirmation that down trend from 0.8006 (2021 high) has completed. price actions from 0.6169 (2022 low) could be just a medium term corrective pattern, with rise from 0.6269 as the third leg. For now, range trading should be seen between 0.6169 and 0.7156 (2023 high), until further developments.

Daily Pivots: (S1) 0.7026; (P) 0.7054; (R1) 0.7070; More…

Intraday bias in AUD/USD remains neutral for the moment. Further rise is expected with 0.6996 minor support intact. Break of 0.7082 will target 100% projection of 0.6831 to 0.7047 from 0.6910 at 0.7126. Sustained break there will indicate solid upside momentum for 0.7205 resistance next. On the downside, break of 0.6996 will suggest that the rebound has completed and 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) 0.7021; (P) 0.7100; (R1) 0.7142; More…

AUD/USD’s decline resumed after brief recovery and intraday bias is back on the downside. Current development suggests that larger correction from 0.8006 is in its third leg. Deeper fall should be seen to retest 0.6966 low first. Break will target 0.6756 medium term fibonacci level next. On the upside, above 0.7179 minor resistance will turn intraday bias neutral again.

In the bigger picture, price actions from 0.8006 are seen as a corrective pattern to rise from 0.5506 (2020 low). Fall from 0.7660 should be the third leg of this pattern. Break of 0.6966 will target 50% retracement of 0.5506 to 0.8006 at 0.6756. On the upside, break of 0.7660 will revive that case that the correction has already completed at 0.6966.

Daily Pivots: (S1) 0.7614; (P) 0.7637; (R1) 0.7675; More…

Intraday bias in AUD/USD remains neutral for the moment. On the upside, break of 0.7622 minor resistance will suggest short term bottoming at 0.7530, on bullish convergence condition in 4 hour MACD. Intraday bias will be turned back to the upside for 0.7848 resistance. Break there should confirm completion of the correction form 0.8006. On the downside, break of 0.7530 will extend the correction to 100% projection of 0.8006 to 7620 from 0.7848 at 0.7462. We’ll look for strong support from there to bring rebound.

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) 0.7095; (P) 0.7142; (R1) 0.7192; More…

AUD/USD recovered quickly after hitting 0.7089 and intraday bias remains neutral first. Risk will stay on the downside as long as 0.7313 resistance holds. Corrective rebound from 0.6992 should have completed there. Below 0.7089 will target 0.6991/2 support zone. Further break there will resume larger down trend from 0.8006, and carries larger bearish implication. Next target will be 100% projection of 0.7555 to 0.6992 from 0.7313 at 0.6750.

In the bigger picture, strong rebound from 0.6991 key structural support will retain medium term bullishness. That is, whole up trend from 0.5506 is still in progress. Firm break of 0.7555 resistance will target 0.8006 high and above. However, sustained break of 0.6991 will argue that the whole up trend from 0.5506 might be finished at 0.8006, after rejection by 0.8135 long term resistance. Deeper decline would then be seen back to 61.8% retracement of 0.5506 to 0.8006 at 0.6461.