Daily Pivots: (S1) 0.6472; (P) 0.6505; (R1) 0.6542; More...
Intraday bias in AUD/USD stays neutral first. On the downside, decisive break of 0.6455 support will indicate short term topping, with bearish divergence condition in 4H MACD. Intraday bias will be back on the downside for deeper pullback to 55 D EMA (now at 0.6425) and below. Nevertheless, strong rebound from current level, followed by break of 0.6651 resistance, will resume the rally from 0.5913 towards 0.6713 fibonacci level.
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 below. Nevertheless, strong rebound from current level, followed by break of 0.6651 resistance, will resume the rally from 0.5913 towards 0.6713 fibonacci level.){kind=link}