Daily Pivots: (S1) 0.6480; (P) 0.6511; (R1) 0.6549; More...
AUD/USD is still capped by 0.6567 resistance and intraday bias remains neutral for the moment. Further fall is also in favor. On the downside, below 0.6472 minor support will turn bias back to the downside for retesting 0.6348 low. Nevertheless, strong break of 0.6567 will bring stronger rally to 55 D EMA (now at 0.6617) and possibly above.
In the bigger picture, overall, price actions from 0.6169 (2022 low) are seen as a medium term corrective pattern, with fall from 0.6798 as another falling leg. Deeper fall could be seen to the lower side of the range between 0.6169/6361. But strong support should be seen there to contain downside. For now, risk will stay on the downside as long as 55 D EMA (now at 0.6617) holds, in case of rebound.
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