Daily Pivots: (S1) 0.6713; (P) 0.6730; (R1) 0.6753; More...
AUD/USD’s rally from 0.5913 resumed by breaking through 0.6765 resistance today. Intraday bias is back on the upside. Further rise should be seen to 61.8% projection of 0.5913 to 0.6706 from 0.6420 at 0.6910 next. For now, near term outlook will stay bullish as long as 0.6667 support holds, in case of retreat.
In the bigger picture, current development argues that rise from 0.5913 (2024 low) is reversing whole down trend from 0.8006 (2021 high). Further rally should be seen to 61.8% retracement of 0.8006 to 0.5913 at 0.7206. This will remain the favored case as long as 0.6420 support holds, even in case of deep pullback.
