Daily Pivots: (S1) 0.6541; (P) 0.6558; (R1) 0.6591; More…
Intraday bias in AUD/USD is turned neutral with current recovery. Some consolidations would be seen first, but outlook will stay bearish as long as 0.6639 support turned resistance holds. Below 0.6524 temporary low ill resume the fall from 0.6870 to 61.8% retracement of 0.6269 to 0.6870 at 0.6497. Sustained break there will argue that whole rebound from 0.6269 has completed, and bring deeper fall to this support.
In the bigger picture, price actions from 0.6169 (2022 low) are seen as a medium term corrective pattern to the down trend from 0.8006 (2021 high). Sideway trading could continue in range of 0.6169/7156 for some more time. But as long as 0.7156 holds, an eventual downside breakout would be mildly in favor.
