Daily Pivots: (S1) 0.6319; (P) 0.6349; (R1) 0.6365; More...
AUD/USD’s decline resumed by breaking through 0.6336 temporary low and intraday bias is back on the downside. Current fall from 0.6941 should target 0.6269 support next. On the upside, above 0.6382 minor resistance will turn intraday bias neutral and bring consolidations again, before staging another fall.
In the bigger picture, price actions from 0.6169 (2022 low) are seen as a medium term consolidation to the down trend from 0.8006. More sideway trading could be seen above 0.6169, but overall outlook will stay bearish as long as 0.6941 resistance holds. Firm break of 0.6169 will resume the down trend to 61.8% projection of 0.8006 to 0.6169 from 0.6941 at 0.5806 next.
