Day by day Pivots: (S1) 0.6448; (P) 0.6485; (R1) 0.6508; Extra…
Intraday bias in AUD/USD stays impartial for consolidations under 0.6541. Draw back needs to be contained by 55 4H EMA (now at 0.6437) to deliver 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 all the way down to 0.6269. Stronger rally ought to seen to falling channel resistance (now at 0.6674) subsequent.
Within the larger image, there is no such thing as a affirmation that down pattern from 0.8006 (2021 excessive) has accomplished. Whereas present rebound from 0.6269 may lengthen increased, it might 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.
