AUD/USD edged higher to 0.7243 last week but retreated quickly again. Initial bias stays neutral this week first. Upside momentum remain unconvincing, with bearish divergence condition in 4 hour 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.

In the longer term picture, there is no change in the view that down trend from 1.1079 (2011 high) is still in progress. Such down trend could extend through 0.5506 low after completing the corrective rise from there. However, sustained break of 55 month EMA (now at 0.7311) will raise the chance of long term reversal and turn focus back to 0.8135 key resistance.

Daily Pivots: (S1) 0.7194; (P) 0.7217; (R1) 0.7260; More…

Intraday bias in AUD/USD remains on the upside at this point. Current rise form 0.5506 should target 0.7311 long term EMA. On the downside, break of 0.7076 support should confirm short term topping. That will turn bias back to the downside for 0.6776, for correcting the whole rise from 0.5506.

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 0.6789). However, sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

Daily Pivots: (S1) 0.7150; (P) 0.7196; (R1) 0.7237; More…

AUD/USD’s breach of 0.7227 suggests resumption of larger rise form 0.5506. Intraday bias is back on the upside for 0.7311 long term EMA. On the downside, break of 0.7076 support should confirm short term topping. That will turn bias back to the downside for 0.6776, for correcting the whole rise from 0.5506.

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 0.6789). However, sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

Daily Pivots: (S1) 0.7124; (P) 0.7146; (R1) 0.7185; More…

Intraday bias in AUD/USD remains neural as range trading continues. On the upside, break of 0.7227 will resume the rise form 0.5506 to 0.7311 long term EMA. On the downside, break of 0.7063 confirm short term topping. That will turn bias back to the downside for 0.6776, for correcting the whole rise from 0.5506.

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 0.6789). However, sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

Daily Pivots: (S1) 0.7083; (P) 0.7117; (R1) 0.7157; More…

AUD/USD is holding in range of 0.7063/7227 and intraday bias remains neutral first. Daily and 4 hour MACDs suggest that a short term top could have been formed. On the downside, break of 0.7063 will turn bias back to the downside for 0.6776, for correcting the whole rise from 0.5506. Nevertheless, above 0.7227 will extend the rally towards 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 0.6789). However, sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

Daily Pivots: (S1) 0.7108; (P) 0.7167; (R1) 0.7202; More…

Intraday bias in AUD/USD remains neutral at this point. Upside momentum has been clearly diminishing as seen in 4 hour MACD and a short term top should be around the corner. On the downside, break of 0.7063 will turn bias back to the downside for 0.6776, for correcting the whole rise from 0.5506. Nevertheless, above 0.7227 will extend the rally towards 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 0.6789). However, sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

AUD/USD’s rise continued last week and edged higher to 0.7227, but retreated since then. Upside momentum has been clearly diminishing as seen in 4 hour MACD and a short term top should be around the corner. Initial bias is neutral this week first. On the downside, break of 0.7063 will turn bias back to the downside for 0.6776, for correcting the whole rise from 0.5506. Nevertheless, above 0.7227 will extend the rally towards 0.7323 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 0.7323). This will remain the preferred case as long as it stays above 55 week EMA (now at 0.6777). However, sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

In the longer term picture, there is no change in the view that down trend from 1.1079 (2011 high) is still in progress. Such down trend could extend through 0.5506 low after completing the corrective rise from there. However, sustained break of 55 month EMA (now at 0.7324) will raise the chance of long term reversal and turn focus back to 0.8135 key resistance.

Daily Pivots: (S1) 0.7145; (P) 0.7172; (R1) 0.7222; More…

AUD/USD’s rally resumed after brief consolidations. Intraday bias is back on the upside for long term EMA level at 0.7311 next. On the downside, however, firm break of 0.7063 support will now suggest short term topping. Intraday bias will be turned back to the downside for 0.6776 support instead.

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 0.6763). However, sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

Daily Pivots: (S1) 0.7158; (P) 0.7177; (R1) 0.7206; More…

AUD/USD retreated again after edging higher to 0.7196 and intraday bias is turned neutral again. Further rise is expected as long as 0.7063 support holds. Above 0.7196 will resume the rise from 0.5506 to long term EMA level at 0.7311 next. On the downside, however, firm break of 0.7063 support will now suggests short term topping. Intraday bias will be turned back to the downside for 0.6776 support instead.

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 0.6763). However, sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

Daily Pivots: (S1) 0.7121; (P) 0.7149; (R1) 0.7185; More…

AUD/USD’s break of 0.7183 temporary top suggests rally resumption. Intraday bias is back on the upside for long term EMA level at 0.7311 next. On the downside, however, firm break of 0.7063 support will now suggests short term topping. Intraday bias will be turned back to the downside for 0.6776 support instead.

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 0.6763). However, sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

Daily Pivots: (S1) 0.7109; (P) 0.7129; (R1) 0.7171; More…

Intraday bias in AUD/USD remains neutral first as it fails to break through 0.7183 temporary top. More sideway trading could be seen but further rise is expected as long as 0.7063 support holds. On the upside, break of 0.7183 will target long term EMA level at 0.7311 next. However, firm break of 0.7063 will now suggests short term topping. Intraday bias will be turned back to the downside for 0.6776 support instead.

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 0.6763). However, sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

Daily Pivots: (S1) 0.7072; (P) 0.7098; (R1) 0.7133; More…

Intraday bias in AUD/USD remains neutral for the moment. Some consolidations could be seen below 0.7183. But further rise is expected as long as 0.6963 support holds. On the upside, break of 0.7183 will target long term EMA level at 0.7311 next.

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 0.6763). However, sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

AUD/USD surged to as high as 0.7183 last week as rise from 0.5506 resumed. But as a temporary top was formed initial bias remains neutral this week first. Further rally is expected as long as 0.6963 support holds. On the upside, break of 0.7183 will target long term EMA level at 0.7311 next.

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 0.6763). However, sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

In the longer term picture, there is no change in the view that down trend from 1.1079 (2011 high) is still in progress. Such down trend could extend through 0.5506 low after completing the corrective rise from there. However, sustained break of 55 month EMA (now at 0.7311) will raise the chance of long term reversal and turn focus back to 0.8135 key resistance.

Daily Pivots: (S1) 0.7071; (P) 0.7117; (R1) 0.7142; More…

Intraday bias in AUD/USD is turned neutral as a temporary top was formed at 0.7183, inch below 61.8% projection of 0.6402 to 0.7064 from 0.6776 at 0.7185. Some consolidation could be seen but further rise is expected as long as 0.6963 support holds. Sustained break of 0.7185 will target t long term EMA level at 0.7311 next.

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 0.6750). Sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

Daily Pivots: (S1) 0.7109; (P) 0.7146; (R1) 0.7178; More…

AUD/USD rises to as high as 0.7183 so far, just inch below 61.8% projection of 0.6402 to 0.7064 from 0.6776 at 0.7185. Intraday bias stays on the upside first. Sustained break of 0.7185 will target t long term EMA level at 0.7311 next. On the downside, break of 0.6963 support is needed to confirm short term topping. Otherwise, outlook will remain bullish in case of retreat.

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 0.6750). Sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

Daily Pivots: (S1) 0.7042; (P) 0.7095; (R1) 0.7175; More…

Intraday bias in AUD/USD remains on the upside at this point. Current rise should target 61.8% projection of 0.6402 to 0.7064 from 0.6776 at 0.7185. Sustained break there will target long term EMA level at 0.7311 next. On the downside, break of 0.6963 support is needed to confirm short term topping. Otherwise, outlook will remain bullish in case of retreat.

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 0.6750). Sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

Daily Pivots: (S1) 0.6988; (P) 0.7002; (R1) 0.7032; More…

AUD/USD accelerates to as high as 0.7101 so far today. Break of 0.7064 resistance confirms resumption of whole rise form 0.5506. Intraday bias is now on the upside for near term target of 61.8% projection of 0.6402 to 0.7064 from 0.6776 at 0.7185. On the downside, break of 0.6963 support is needed to confirm short term topping. Otherwise, outlook will remain bullish in case of retreat.

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 0.6750). Sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

Daily Pivots: (S1) 0.6988; (P) 0.7002; (R1) 0.7032; More…

AUD/USD’s focus is now on 0.7064 resistance with today’s rally. Decisive break there will resume larger rise from 0.5506. On the downside, though, break of 0.6963 support will suggest rejection from 0.7064. Intraday bias will be turned back to the downside for 0.6676 support and below.

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 0.6750). Sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

Daily Pivots: (S1) 0.6974; (P) 0.6990; (R1) 0.7011; More…

Intraday bias in AUD/USD remains neutral first. Price actions from 0.7064 are seen as a consolidation pattern, with rise from 0.6776 as the second leg. Upside should be limited by 0.7064 resistance to bring one more down leg. On the downside, below 0.6922 minor support will turn bias to the downside for 0.6776 support and below. However, 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 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 0.6750). Sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

AUD/USD’s choppy rebound from 0.6776 extended higher last week. But overall outlook is unchanged. Price actions from 0.7064 are seen as a consolidation pattern, with rise from 0.6776 as the second leg. Upside should be limited by 0.7064 resistance to bring one more down leg. On the downside, below 0.6922 minor support will turn bias to the downside for 0.6776 support and below. However, 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 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 0.6741). Sustained trading below 55 week EMA will turn focus back to 0.5506 low instead.

In the longer term picture, there is no change in the view that down trend from 1.1079 (2011 high) is still in progress. Such down trend could extend through 0.5506 low after completing the corrective rise from there. However, sustained break of 55 month EMA (now at 0.7311) will raise the chance of long term reversal and turn focus back to 0.8135 key resistance.