Daily Pivots: (S1) 0.5907; (P) 0.5997; (R1) 0.6046; More...
AUD/USD dips to 0.5913 but quickly recovered. Intraday bias stays neutral and more consolidations could be seen. Outlook will stay bearish as long as 55 4H EMA (now at 0.6155) holds. Break of 0.5915 will resume larger decline to 61.8% projection of 0.6941 to 0.6087 from 0.6388 at 0.5860.
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 0.6388 resistance holds.
 holds. Break of 0.5915 will resume larger decline to 61.8% projection of 0.6941 to 0.6087 from 0.6388 at 0.5860.){kind=link}