AUD/USD Daily Report

Daily Pivots: (S1) 0.6480; (P) 0.6568; (R1) 0.6624; More…

Intraday bias in AUD/USD remains on the downside as down trend continues today. Next target is 0.6461 long term fibonacci level. Break there will target 100% projection of 0.7660 to 0.6680 from 0.7135 at 0.6155. On the upside, above 0.6669 minor resistance will turn intraday bias neutral and bring consolidations, before staging another decline.

In the bigger picture, down trend form 0.8006 (2021 high) is expected to continue as long as 0.7135 resistance holds. Next target is 61.8% retracement of 0.5506 (2020 low) to 0.8006 at 0.6461. Sustained break there will pave the way back to retest 0.5506.

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