Daily Pivots: (S1) 0.6468; (P) 0.6502; (R1) 0.6523; More...
AUD/USD retreated after edging higher to 0.6536 and intraday bias is turned neutral again first. Outlook will stay bullish as long as 0.6406 support holds. Break of 0.6536 will resume the rally from 0.5913 to 38.2% projection of 0.5913 to 0.6513 from 0.6406 at 0.6635.
In the bigger picture, 55 W EMA (now at 0.6439) is considered taken out. A medium term bottom should already be in place at 0.5913. Rise from there could either be a corrective move, or reversing whole down trend from 0.8006 (2021 high). In either case, further rise is now expected as long as 55 D EMA (now at 0.6372) holds. Next target is 38.2% retracement of 0.8006 to 0.5913 at 0.6713.
