Daily Pivots: (S1) 0.6456; (P) 0.6487; (R1) 0.6512; More...
Intraday bias in AUD/USD remains neutral first. Below 0.6457 will target 0.6439 support, and then 0.6413 cluster (38.2% retracement of 0.5913 to 0.6706 at 0.6403). Strong support could be seen there to bring rebound. However, sustained trading below 0.6403/13 will carry larger bearish implications.
In the bigger picture, there is no clear sign that down trend from 0.8006 (2021 high) has completed. Rebound from 0.5913 is seen as a corrective move. Outlook will remain bearish as long as 38.2% retracement of 0.8006 to 0.5913 at 0.6713 holds. Break of 0.6413 support will suggest rejection by 0.6713 and solidify this bearish case. Nevertheless, considering bullish convergence condition in W MACD, sustained break of 0.6713 will be a strong sign of bullish trend reversal, and pave the way to 0.6941 structural resistance for confirmation.
. Strong support could be seen there to bring rebound. However, sustained trading below 0.6403/13 will carry larger bearish implications.){kind=link}