Daily Pivots: (S1) 0.7058; (P) 0.7115; (R1) 0.7177; More...
AUD/USD’s rally resumed by breaking through 0.7146 resistance today. Intraday bias is back on the upside for 100% projection of 0.5913 to 0.6706 from 0.6420 at 0.7213. Decisive break there could prompt upside acceleration to 161.8% projection at 0.7703. For now, outlook will remain bullish as long as 0.6943 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). Decisive break of 61.8% retracement of 0.8006 to 0.5913 at 0.7206 will pave the way back to 0.8006. This will remain the favored case as long as 0.6706 resistance turned support holds, even in case of deep pullback.
