AUD/USD Daily Report

Daily Pivots: (S1) 0.6553; (P) 0.6584; (R1) 0.6600; More…

Intraday bias in AUD/USD remains neutral as consolidation from 0.6524 is extending. But further decline is expected as long as 0.6639 support turned resistance holds. Firm break of 0.6524 support 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.

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