Daily Pivots: (S1) 0.7113; (P) 0.7151; (R1) 0.7189; More...
AUD/USD retreated after hitting 0.7187 and intraday bias is turned neutral first. Outlook stays bullish with 0.6943 support intact. Firm break of 100% projection of 0.5913 to 0.6706 from 0.6420 at 0.7213 could prompt upside acceleration to 161.8% projection at 0.7703.
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.
