AUD/USD’s sharp decline and break of 0.6910 support last week suggests that rebound from 0.6831 has completed at 0.7082 already. The three wave corrective structure suggests that larger decline from 0.7295 is in progress and is possibly resuming. Initial bias stays on the downside this week for 0.6831 support first. Break will confirm and target 0.6722 low next. On the upside, break of 0.6955 minor resistance will turn intraday bias neutral again.

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.

In the longer term picture, prior rejection by 55 month EMA maintained long term bearishness in AUD/USD. That is, down trend from 1.1079 (2011 high) is still in progress. Sustained break of 0.6826 will target 0.6008 low and then 61.8% projection of 1.1079 to 0.6826 from 0.8135 at 0.5507.

Daily Pivots: (S1) 0.6935; (P) 0.6960; (R1) 0.6977; More…

Intraday bias in AUD/USD remains on the downside for 0.6910 support. Break will confirm that rebound from 0.6831 has completed with three waves up to 0.7082. Such development will also argue that fall from 0.7295 is in progress for 0.6722 low. On the upside, above 0.6991 minor resistance will turn intraday bias neutral first.

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) 0.6966; (P) 0.6986; (R1) 0.6999; More…

Intraday bias in AUD/USD remains mildly on the downside at this point. Rebound from 0.6831 should have completed with three waves up to 0.7082. Break of 0.6910 support will confirm and pave the way back to retest 0.6831 support next. Such development will also argue that fall from 0.7295 is in progress for 0.6722 low. On the upside, above 0.7008 minor resistance will turn intraday bias neutral first.

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) 0.6989; (P) 0.7012; (R1) 0.7029; More…

AUD/USD’s sharp fall and break of 0.6996 minor support suggests that rebound from 0.6831 has completed with three waves up to 0.7082. Intraday bias is turned back to the downside for 0.6910 support first. Break will confirm and pave the way back to retest 0.6831 support next. Such development will also argue that fall from 0.7295 is in progress for 0.6722 low. On the upside, break of 0.7082 will extend the rebound from 0.6831 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) 0.7026; (P) 0.7054; (R1) 0.7070; More…

Intraday bias in AUD/USD stays neutral at this point. Further rise remains in favor 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) 0.7026; (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.

AUD/USD’s rise from 0.6831 resumed last week by breaking 0.7047 resistance to 0.7082. As a temporary top was formed, initial bias is neutral this week first. Further rally is expected as long as 0.6996 minor support holds. Break ow 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.

In the longer term picture, prior rejection by 55 month EMA maintained long term bearishness in AUD/USD. That is, down trend from 1.1079 (2011 high) is still in progress. Sustained break of 0.6826 will target 0.6008 low and then 61.8% projection of 1.1079 to 0.6826 from 0.8135 at 0.5507.

Daily Pivots: (S1) 0.7029; (P) 0.7053; (R1) 0.7100; More…

AUD/USD’s rebound from 0.6831 resumed by taking out 0.7047 and reaches as high as 0.7082 so far. Intraday bias is back on the upside for 61.8% retracement of 0.7295 to 0.6831 at 0.7118, and possibly to 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) 0.6996; (P) 0.7010; (R1) 0.7025; More…

Intraday bias in AUD/USD remains neutral for the moment. With 0.6982 minor support intact, further rise is in favor. On the upside, break of 0.7047 will resume the rebound from 0.6831 for 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) 0.6999; (P) 0.7022; (R1) 0.7033; More…

AUD/USD retreats ahead of 0.7047 resistance and intraday bias is turned neutral first. Another rise is mildly in favor with 0.6983 minor support intact. Break of 0.7047 will resume the rebound from 0.6831 for 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) 0.7021; (P) 0.7030; (R1) 0.7049; More…

No change in AUD/USD’s outlook. Intraday bias remains on the upside with focus on 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) 0.6986; (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.

Despite dipping to 0.6910, AUD/USD recovered strongly from there. The development suggests that rise from 0.6831 is no completed yet. Initial bias is mildly on the upside for 0.7047 resistance first. Break will resume the rise from 0.6831 and target 61.8% retracement of 0.7295 to 0.6831 at 0.7118 first. Sustained break till target 0.7295 resistance next. On the downside, though, break of 0.6967 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.

In the longer term picture, prior rejection by 55 month EMA maintained long term bearishness in AUD/USD. That is, down trend from 1.1079 (2011 high) is still in progress. Sustained break of 0.6826 will target 0.6008 low and then 61.8% projection of 1.1079 to 0.6826 from 0.8135 at 0.5507.

Daily Pivots: (S1) 0.6957; (P) 0.6973; (R1) 0.6991; More…

Break of 0.6994 resistance dampened our original bearish view. Pull back from 0.7047 is completed at 0.6910 and rebound from 0.6831 is possibly still in progress. Intraday bias is back on the upside for 0.7047 first. Break will target 61.8% retracement of 0.7295 to 0.6831 at 0.7118. On the downside, below 0.6910 will bring retest of 0.6831 low 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) 0.6924; (P) 0.6947; (R1) 0.6982; More…

Intraday bias in AUD/USD is turned neutral with strong recovery from 0.6910. Intraday bias turned neutral first. Further decline remains in favor as long as 0.6994 minor resistance holds. Corrective rebound from 0.6831 could have completed at 0.7047 already. Below 0.6910 bring retest of 0.6831 low. On the upside, though, break of 0.6994 minor resistance will dampen this view and turn focus back to 0.7047 resistance 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) 0.6906; (P) 0.6945; (R1) 0.6968; More…

AUD/USD’s strong break of 0.6956 minor support confirmed completion of corrective rebound from 0.6831 at 0.7047. Intraday bias is now on the downside for retesting 0.6831 low next. Break will resume the decline from 0.7295 to 0.6722 low. On the upside, though, break of 0.6994 minor resistance will turn focus back to 0.7047 resistance 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) 0.6963; (P) 0.6978; (R1) 0.6990; More…

Intraday bias in AUD/USD remains neutral with focus on 0.6956 minor support. Firm break there will indicate completion of the rebound from 0.6831. Intraday bias will be turned back to the downside for retesting 0.6831 low. On the upside, above 0.7047 will resume the rebound to 61.8% retracement of 0.7295 to 0.6831 at 0.7118.

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) 0.6948; (P) 0.6989; (R1) 0.7020; More…

AUD/USD recovers ahead of 0.6956 minor support and intraday bias remains neutral first. On the upside, break of 0.7047 will resume the rebound from 0.6831 to 61.8% retracement of 0.7295 to 0.6831 at 0.7118. Sustained break will target 0.7295 resistance next. On the downside, break of 0.6956 support, however, will indicate completion of the rebound. Intraday bias will be turned back to the downside for retesting 0.6831 low.

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.

AUD/USD edged higher to 0.7047 last week but dropped sharply since then. Yet, as downside is contained above 0.6956 support, initial bias is neutral this week first. On the upside, break of 0.7047 will resume the rebound from 0.6831 to 61.8% retracement of 0.7295 to 0.6831 at 0.7118 first. Sustained break till target 0.7295 resistance next. On the downside, break of 0.6956 support, however, will indicate completion of the rebound. Intraday bias will be turned back to the downside for retesting 0.6831 low.

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.

In the longer term picture, prior rejection by 55 month EMA maintained long term bearishness in AUD/USD. That is, down trend from 1.1079 (2011 high) is still in progress. Sustained break of 0.6826 will target 0.6008 low and then 61.8% projection of 1.1079 to 0.6826 from 0.8135 at 0.5507.

Daily Pivots: (S1) 0.7010; (P) 0.7029; (R1) 0.7042; More…

AUD/USD is losing upside momentum again as seen in 4 hour MACD. But further rise is expected as long as 0.6956 support holds. Rebound from 0.6831 could extend to 61.8% retracement of 0.7295 to 0.6831 at 0.7118 first. Sustained break till target 0.7295 resistance next. On the downside, break of 0.6956 support, however, will indicate completion of the rebound. Intraday bias will be turned back to the downside for retesting 0.6831 low.

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.