Daily Pivots: (S1) 0.6551; (P) 0.6577; (R1) 0.6606; More….
Intraday bias in AUD/USD remains neutral for the moment. On the upside, above 0.6618 will bring further rally to 0.6666 resistance. Break there will resume whole rebound from 0.6442. However, break of 0.6480 support will bring retest of 0.6442 low instead.
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). Fall from 0.7156 (2023 high) is seen as the second leg, which might still be in progress. Overall, 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.
