Daily Pivots: (S1) 0.6645; (P) 0.6670; (R1) 0.6720; More...
Intraday bias in AUD/USD remains on the upside at tis point. Sustained break of 61.8% projection of 0.6464 to 0.6645 from 0.6578 at 0.6690 will target 100% projection at 0.6759. On the downside, below 0.6645 will turn intraday bias neutral first. But further rally is expected as long as 0.6578 support holds, in case of retreat.
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 could have completed at 0.6269 already. Rise from there is seen as the third leg which is now trying to resume through 0.6870 resistance.
