Daily Pivots: (S1) 0.7036; (P) 0.7067; (R1) 0.7126; More...
Intraday bias in AUD/USD remains neutral with focus on 0.7093 resistance. Decisive break there will resume larger up trend. Next target is 100% projection of 0.5913 to 0.6706 from 0.6420 at 0.7213. In case of another fall as the consolidation extends, downside should be contained by 38.2% retracement of 0.6420 to 0.7093 at 0.6836.
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 0.6706 resistance turned support holds, even in case of deep pullback.
