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AUD/USD Day by day Report

aud/usd-day-by-day-report

Day by day Pivots: (S1) 0.7085; (P) 0.7111; (R1) 0.7131; Extra…

Intraday bias in AUD/USD is mildly on the draw back at this level. Rebound from 0.6992 may have accomplished at 0.7185. Deeper fall can be seen again to retest 0.6992 low. Sustained break of 0.6991 key medium time period structural assist will carry bigger bearish implication and resume the autumn from 0.8006. On the upside, although, above 0.7185 will resume the rebound from 0.6992 to four hour 555 EMA (now at 0.7259).

Within the greater image, sustained break of 0.6991 structural assist will argue that the entire up pattern from 0.5506 is likely to be completed at 0.8006, after rejection by 0.8135 long run resistance. Deeper decline would then be seen again to 61.8% retracement of 0.5506 to 0.8006 at 0.6461). For now, medium time period outlook will keep bearish so long as 0.7555 resistance holds, in case of rebound.

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