Daily Pivots: (S1) 0.6215; (P) 0.6244; (R1) 0.6300; More...
Intraday bias in AUD/USD is turned neutral first with current recovery. But outlook is unchanged that corrective rebound from 0.6087 should have completed at 0.6407, ahead of 38.2% retracement of 0.6941 to 0.6087 at 0.6413. On the downside, below 0.6186 will resume the fall from 0.6407 to retest 0.6087 low.
In the bigger picture, fall from 0.6941 (2024 high) is seen as part of the down trend from 0.8006 (2021 high). Next medium term target is 61.8% projection of 0.8006 to 0.6169 from 0.6941 at 0.5806. In any case, outlook will stay bearish as long as 55 W EMA (now at 0.6494) holds.
