Daily Pivots: (S1) 0.6483; (P) 0.6514; (R1) 0.6533; More...
AUD/USD quickly lost momentum after edging higher to 0.6545 and intraday bias is turned neutral again. Considering bearish divergence condition in 4H MACD, break of 0.6478 support will turn bias back to the downside for 55 D EMA (now at 0.6413) and possibly below. On the upside, firm break of 0.6545 will resume larger rally from 0.5913 to 61.8% retracement of 0.6941 to 0.5913 at 0.6548.
In the bigger picture, AUD/USD is still struggling to sustain above 55 W EMA (now at 0.6443) cleanly, and outlook is mixed. Sustained trading above 55 W EMA will indicate that rise from 0.5913 is at least correcting the down trend from 0.8006 (2021 high), with risk of trend reversal. Further rise should be seen to 38.2% retracement of 0.8006 to 0.5913 at 0.6713. However, rejection by 55 W EMA will revive medium term bearishness for another fall through 0.5913 at a later stage.
 and possibly below. On the upside, firm break of 0.6545 will resume larger rally from 0.5913 to 61.8% retracement of 0.6941 to 0.5913 at 0.6548.){kind=link}