Daily Pivots: (S1) 0.6853; (P) 0.6907; (R1) 0.6941; More...
Intraday bias in AUD/USD on the downside as this point. Fall from 0.7187 is seen as correcting the whole up trend from 0.5913. Deeper decline would be seen to 38.2% retracement of 0.5913 to 0.7187 at 0.6700. On the upside, though, above 0.6956 minor resistance will turn intraday bias neutral again first.
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.
