Daily Pivots: (S1) 0.6869; (P) 0.6892; (R1) 0.6909; More...
Intraday bias in AUD/USD remains neutral for consolidation below 0.6941. Further rally is expected as long as 0.6823 resistance turned support holds. Above 0.6941 will resume the rise from 0.6348 to 100% projection of 0.6348 to 0.6823 from 0.6621 at 0.7096. However, firm break of 0.6823 will turn bias to the downside for deeper pullback to 55 D EMA (now at 0.6742).
In the bigger picture, overall, price actions from 0.6169 (2022 low) are seen as a medium term corrective pattern, with rise from 0.6269 as the third leg. Firm break of 0.6870 resistance will target 100% projection of 0.6269 to 0.6870 from 0.6340 at 0.6941, and then 138.2% projection at 0.7179. This will now remain the favored case as long as 0.6621 support holds.
.){kind=link}