Daily Pivots: (S1) 0.6599; (P) 0.6612; (R1) 0.6624; More...
Intraday bias in AUD/USD stays neutral and more consolidations could be seen below 0.6685. But further rally is still in favor for now. On the upside, decisive break of 0.6706 will resume the whole rise from 0.5913 and target 61.8% projection of 0.5913 to 0.6706 from 0.6420 at 0.6910. However, sustained break of 55 D EMA (now at 0.6566) will extend the corrective pattern from 0.6706 with another falling leg back to 0.6420 support.
In the bigger picture, the break of multi-year falling trend line resistance suggests that rise from 0.5913 is possibly reversing whole down trend from 0.8006 (2021 high). Decisive break of 38.2% retracement of 0.8006 to 0.5913 at 0.6713 will solidify this case, and bring further rally to 61.8% retracement at 0.7206. On the downside, however, firm break of 0.6420 support will suggest rejection by 0.6713 and retain medium term bearishness.
 will extend the corrective pattern from 0.6706 with another falling leg back to 0.6420 support.){kind=link}