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Daily Pivots: (S1) 0.6417; (P) 0.6460; (R1) 0.6484; More...
Intraday bias in AUD/USD remains neutral and further rally is expected as long as 0.6406 support holds. Break of 0.6536 will resume whole rally from 0.5913. However, firm break of 0.6406 will confirm short term topping, and turn bias back to the downside for 55 D EMA (now at 0.6376).
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 0.6376) holds. Next target is 38.2% retracement of 0.8006 to 0.5913 at 0.6713.
