Daily Pivots: (S1) 0.6275; (P) 0.6293; (R1) 0.6306; More...
Intraday bias in AUD/USD remains neutral as sideway trading continues. On the downside, below 0.6257 will target 0.6186 support first. Firm break there will indicate that corrective pattern from 0.6087 has completed and larger fall from 0.6941 is ready to resume. For now, outlook will stay bearish as long as 38.2% retracement of 0.6941 to 0.6087 at 0.6413 holds, in case of another recovery.
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 0.6474) holds.
