Day by day Pivots: (S1) 0.6481; (P) 0.6512; (R1) 0.6540; Extra…
Regardless of spiking larger to 0.6541, subsequent retreat in AUD/USD suggests {that a} non permanent prime was fashioned. Intraday bias is turned impartial for some consolidations first. Draw back must be contained by 55 4H EMA (now at 0.6427) to carry rebound. Break of 0.6541, and sustained buying and selling above 38.2% retracement of 0.6894 to 0.6269 at 0.6508, will argue that entire corrective fall from 0.7156 has accomplished with three waves right down to 0.6269. Stronger rally ought to seen to falling channel resistance (now at 0.6684) subsequent.
Within the greater image, there isn’t a affirmation that down pattern from 0.8006 (2021 excessive) has accomplished. Whereas present rebound from 0.6269 may prolong larger, it may very well be the third leg of the corrective sample from 0.6169 (2022 low) solely. For now, medium time period bearishness will stay so long as 0.6894 resistance holds.
