Day by day Pivots: (S1) 0.6341; (P) 0.6371; (R1) 0.6423; Extra…
AUD/USD’s break of 0.6398 resistance signifies brief time period bottoming at 0.6398. Intraday bias is again on the upside for rebound to 0.6510 cluster resistance (38.2% retracement of 0.6894 to 0.6269 at 0.6508). Rejection by this degree will retain close to time period bearishness or one other fall by means of 0.6269 at a later stage. Nonetheless, agency break of 0.6510 will argue that complete decline from 0.7156 may be accomplished with three waves all the way down to 0.6269. Stronger rally ought to then be seen.
Within the greater image, down development from 0.8006 (2021 excessive) is presumably nonetheless in progress. Decisive break of 0.6169 will goal 61.8% projection of 0.8006 to 0.6169 to 0.7156 at 0.6021. This can now stay the favored case so long as 0.6894, in case of robust rebound.
