Fri, Jun 09, 2023 @ 00:35 GMT

AUD/USD Daily Report

Daily Pivots: (S1) 0.6615; (P) 0.6647; (R1) 0.6675; More…

Intraday bias in AUD/USD is turned neutral first with current recovery. Overall, risk will stay on the downside as long as 0.6792 resistance holds. On the downside, sustained break of 0.6563 support will resume the decline form 0.7156 to 61.8% projection of 0.7156 to 0.6563 from 0.6792 at 0.6426.

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.

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