Daily Pivots: (S1) 0.6600; (P) 0.6644; (R1) 0.6724; More...
Intraday bias in AUD/USD remains on the upside as rebound from 0.6511 short term bottom is in progress. Sustained break of 55 D EMA (now at 0.6682) will bring stronger rebound back 61.8% retracement of 0.6941 to 0.6511 at 0.6777. On the downside, break of 0.6511 will resume the fall from 0.6941 instead.
In the bigger picture, rise from 0.6269 (2023 low) should have completed with three waves up to 0.6941. Corrective pattern from 0.6169 (2022 low) is now extending with another falling leg. Deeper decline would be seen back to 0.6269 as sideway trading extends.
 will bring stronger rebound back 61.8% retracement of 0.6941 to 0.6511 at 0.6777. On the downside, break of 0.6511 will resume the fall from 0.6941 instead.){kind=link}